On 18 July 2016, Zibanejad was traded by the Senators to the New York Rangers (along with a second-round pick in the 2018 NHL Entry Draft) in exchange for Derick Brassard and a seventh-round pick in the 2018 NHL Entry Draft. On 20 November 2016, during a game against the Florida Panthers, Zibanejad suffered a gruesome injury in overtime when he went hard with his left leg into the boards while trying to get in front of Reilly Smith. After the game, which the Rangers eventually lost 3–2 in a shootout, it was announced that he broke his left fibula and would miss six to eight weeks. He returned to the Rangers lineup against the Dallas Stars on 17 January 2017; he scored two goals in the 7–6 Rangers loss.