ESPN's Craig Custance reported there's no salary retained in the deal.
His three seasons with the Lightning didn't always feature high production, but he was a key member of the roster. He finished with at least 20 points in each season while averaging more than 12 minutes per game on the ice.
Boyle's defensive-minded play has also been a help for a team that reached the Stanley Cup Final in 2015 and almost returned in 2016 before losing in seven games to the Pittsburgh Penguins in the Eastern Conference Final.
He remained productive this season while tallying 13 goals and nine assists.
Trade rumors didn't prevent him from remaining positive about his situation. He discussed his and his wife Lauren's enjoyment of the city with Joe Smith of the Tampa Bay Times.
"We've talked about it plenty of times, how wonderful it is to be playing in Tampa, being close to her family," Boyle said. "The community here. We want to keep playing here."
Unfortunately, he will have to move on to another location after the recent trade.
Still, Boyle will get a chance for a fresh start with the Maple Leafs, a squad that needs a veteran presence. Auston Matthews and Mitch Marner, among others, have shown plenty of talent for their age, but they could use an established player to help show them the ropes.
Adding his defensive ability should also help Toronto keep some goals off the scoreboard going forward.
Meanwhile, Tampa Bay receives a younger prospect in Froese, who has spent most of this season in the AHL but has played 58 games for the Maple Leafs. The 25-year-old has been a quality offensive threat with the Toronto Marlies and is waiting for his chance to show what he can do at the top level.
With a draft pick also part of the deal, both sides get what they are looking for before the trade deadline.