The deal announced Thursday will pay Chimera $1.8 million next season and $1.7 million in 2013-14.
The 32-year-old forward had 10 goals, 16 assists and 64 penalty minutes in 81 games with the Capitals last season. He also scored two game-winning goals in the first round playoff series against the New York Rangers.
Chimera has also played for Edmonton and Columbus in an NHL career that began in the 2000. Washington acquired him from the Blue Jackets for Chris Clark and Milan Jurcina in a midseason trade in December 2009.