The event will be conducted February 6, 2027, at UBS Arena in suburban New York, home arena of the New York Islanders, with teams playing a three-on-three round-robin tournament.
The arena was to have hosted the event this year but it was scrapped when the NHL agreed to shut down so players could compete in the Winter Olympics at Milan.
"There was never anything wrong with the All-Star format we've been using for the last few years," NHL commissioner Gary Bettman said. "We think what we've laid out is going to be fun and entertaining and that's really what it's all about."
The "World" team will consist of players from outside the other competition nations, including Russian talent.
An all-star tournament, the NHL Four Nations Face-Off, was played in 2025, notable for a three-fight start to a USA-Canada match. Before that came captains picking players and teams assembled by divisions.