After spending several seasons with the Bruins, Carter was traded (along with a conditional pick in the 2003 draft, a first- and a second-round pick in the 2001 draft) to the Edmonton Oilers in exchange for Bill Guerin and a first-round pick in the 2001 draft. In his second season with Edmonton, Carter would record career-highs in assists (32) and points (60). However, on March 11, 2003, he was again traded, to the New York Rangers (along with Aleš Píša) in exchange for Radek Dvořák and Cory Cross.