NHL Hart Trophy Odds: Who Is Favored To Win NHL MVP?

For anyone who thought that the Avalanche and Nathan MacKinnon were an uncatchable runaway train, think again. 

MacKinnon is now facing some tough competition in the race for Hart Memorial Trophy, the NHL’s MVP Award. He’s still a major favorite with minus-odds to win the award but the recent emergence of two other solid contenders proves that this is a long season.  

And as Lenny Kravitz once said, “It Ain’t Over Til It’s Over.” Or Yogi Berra, whatever.

Here’s a look at the Hart Trophy odds leaders as of January 14. 

NHL Hart Trophy Odds

2025-26 Hart Trophy Favorite

Nathan MacKinnon, C, Avalanche (-160)

Colorado’s MacKinnon still leads the pack of Hart Trophy would-be’s. Although his lead has shrunk somewhat, he’s still a minus-odds leader to win his second Hart.

The Avalanche and MacKinnon were viewed as all-powerful world beaters through the majority of this season. While that hasn’t necessarily changed, there are growing cracks in the foundation. 

For a time, MacKinnon had a healthy lead in goals and overall points. He still leads the league in goals, with 36, but has surrendered his points lead to Connor McDavid. McDavid has 82 points, MacKinnon has 81. MacKinnon is also now third in assists behind McDavid and Macklin Celebrini. 

While this doesn’t necessarily impact MacKinnon’s MVP standing, Colorado has gone through somewhat of a rough patch. Earlier this week, they lost their home winning streak after an overtime loss to Toronto. They’ve also lost in regulation twice in the first week of 2026.

MacKinnon will remain a favorite for now, but he may become just another contender if he gets a stronger challenge from either of the two players on this list, or if his team goes from Presidents’ Trophy shoo-in to just a really good team. 

Don’t be surprised if MacKinnon loses his minus-odds-favorite status by the next odds update. 

2025-26 Hart Trophy Contender

Macklin Celebrini, C, Sharks (+425)

In just his second year in the NHL, Celebrini has become a serious contender for the Hart Trophy. 

He was selected with the first overall pick in the 2024 Draft after playing a season of college hockey at Boston University. In 70 games played last season, he had 25 goals and 38 assists. That rookie season wasn’t enough to beat out his college teammate Lane Hutson for the Calder Trophy for rookie of the year. 

Now, this year, Celebrini’s taken a huge step up. Through 45 games, he’s already got more assists and overall points than he did in all of last season. He’s also just one goal away from tying his output last year. 

He’s not just one of the best young players in the NHL; he’s one of the best players overall. 

As I wrote above, Celebrini’s in the mix with MacKinnon and McDavid for the assists lead and overall points. Beyond that, he’s second in even-strength goals, third overall in goals created, and fourth in overall point share. 

Celebrini is the most poised to take advantage of a downturn in MacKinnon’s productivity and make a real run at an MVP. 

The threshold for McDavid to win another Hart Trophy is so high at this point. Hart voters won’t be inclined to select him if he’s turning in a season that looks fairly similar to all the ones he’s had before. 

If Celebrini and McDavid’s numbers look identical at the close of the season, Celebrini had the more impressive season.