On July 13, 2006, Sjöström signed a one-way, two-year contract extension worth $1.5 million with the Coyotes.

Later that season, Sjöström would be traded alongside Josh Gratton and David LeNeveu and a 5th round draft pick to the New York Rangers for Marcel Hossa and Al Montoya.

On January 31, 2010, Sjöström would be a part of a multi-player trade to the Toronto Maple Leafs alongside Dion Phaneuf and Keith Aulie in exchange for Matt Stajan, Niklas Hagman, Ian White, and Jamal Mayers.

[4] Sjöström's struggles would continue with the Maple Leafs, only scoring a total of 10 points in his two seasons with the team.

He made his debut for Sweden's men's team during the Euro Hockey Tour final against Finland,[8] and was selected to play at the 2004 Men's World Ice Hockey Championships, where Tre Kronor won a silver medal.