Sparks went 8-9-1 with a .902 save percentage in 20 appearances with the Leafs this past season. He has one year and $750,000 remaining on his contract.
The 25-year-old went 14-18-2 with an .898 save percentage in 37 games over the last two campaigns with the Leafs. He also starred for their AHL affiliate, the Toronto Marlies, helping them capture the Calder Cup in 2018.
The Leafs selected Sparks in the seventh round of the 2011 draft.