Protected lists this year were 18 skaters and two goaltenders, as they were in 1980.
| Player | Picked by | Picked from | Player dropped from protected list | Claim player or cash |
|---|---|---|---|---|
| Round 1 | ||||
| Craig Levie | Winnipeg Jets | Montreal Canadiens | Doug Lecuyer | $50,000 |
| John Wensink | Colorado Rockies | Quebec Nordiques | Bob Attwell | $10,000 |
| Mike McDougall | Hartford Whalers | New York Rangers | Paul Shmyr | $40,000 |
| Terry Murray | Washington Capitals | Philadelphia Flyers | Dennis Ververgaert | $2,500 |
| Ron Delorme | Vancouver Canucks | Colorado Rockies | Drew Callander | $12,500 |
| Yvon Lambert | Buffalo Sabres | Montreal Canadiens | Rob McClanahan | $2,500 |
| Al Sims | Los Angeles Kings | Hartford Whalers | Claude Larochelle | $7,500 |
| Gary Edwards | St. Louis Blues | Edmonton Oilers | Doug Grant | $2,500 |
| Round 2 | ||||
| Serge Savard | Winnipeg Jets | Montreal Canadiens | Rick Bowness | $2,500 |
| Rob McClanahan | Hartford Whalers | Buffalo Sabres | Gilles Lupien | $4,500 |
| John Bednarski | Pittsburgh Penguins | Buffalo Sabres | Gregg Sheppard | $5,000 |
| Round 3 | ||||
| Trevor Johansen | Los Angeles Kings | St. Louis Blues | Scott Gruhl | $15,000 |
| Round 4 | ||||
| Jeff Brubaker | Montreal Canadiens | Hartford Whalers | Doug Jarvis | $40,000 |
