Schenn, 33, recently rejoined the Leafs after his stint with the Vancouver Canucks, marking his first return to Toronto since he left the team in 2012.
Schenn's re-signing appears imminent, though the specifics of the deal remain elusive. It's speculated that the terms will likely favor a short-term contract, though no official confirmation has been made.
During his brief return this season, Schenn, a right-handed Defenseman, scored 1 point in 15 games. In total, he has played 325 games for the Leafs, with the majority of them, 310 games, during his tenure from 2009 to 2012.