In the 1989 NHL Draft, the Quebec Nordiques selected Mats Sundin #1, making him the first European player ever taken first overall. The first round featured foundational stars like Bill Guerin (#5), Bobby Holik (#10), and Olaf Kolzig (#19). While Sundin became a Hall of Fame cornerstone, the draft’s lasting legacy was defined by the Detroit Red Wings' scouting brilliance in the later rounds. They famously selected Nicklas Lidstrom 53rd, Sergei Fedorov 117th, and Vladimir Konstantinov 221st. Overall, 1989 was the year the "Iron Curtain" fell for NHL scouts, proving that elite, championship-winning talent was abundant across Europe.
Career earnings of players picked in the first round of the 1989 NHL entry draft:
| Player | Pos. | Pick # | Drafted by | Career Earnings |
Rank | Career Earnings In today's $ |
Rank |
| Mats Sundin | RW | 1 | Quebec Nordiques | $80,722,091 | 81 | $144,822,028 | 29 |
| Dave Chyzowski | LW | 2 | New York Islanders | $536,905 | 4595 | $1,282,007 | 4156 |
| Scott Thornton | LW | 3 | Toronto Maple Leafs | $14,815,610 | 1064 | $26,894,747 | 918 |
| Stu Barnes | C | 4 | Winnipeg Jets | $18,055,957 | 932 | $33,347,104 | 755 |
| Bill Guerin | RW | 5 | New Jersey Devils | $51,805,533 | 270 | $89,903,942 | 157 |
| Adam Bennett | D | 6 | Chicago Blackhawks | $247,375 | 5283 | $560,797 | 5337 |
| Doug Zmolek | D | 7 | Minnesota North Stars | $5,026,429 | 1966 | $10,199,429 | 1693 |
| Jason Herter | D | 8 | Vancouver Canucks | $444,535 | 4847 | $971,058 | 4479 |
| Jason Marshall | D | 9 | St. Louis Blues | $6,370,000 | 1743 | $11,847,864 | 1564 |
| Bobby Holik | C | 10 | Hartford Whalers | $57,939,545 | 212 | $100,660,146 | 115 |
| Mike Sillinger | C | 11 | Detroit Red Wings | $17,578,321 | 946 | $30,711,062 | 823 |
| Rob Pearson | RW | 12 | Toronto Maple Leafs | $1,036,036 | 3729 | $2,245,635 | 3485 |
| Lindsay Vallis | RW | 13 | Montreal Canadiens | $115,780 | 5792 | $265,934 | 5993 |
| Kevin Haller | D | 14 | Buffalo Sabres | $9,813,333 | 1381 | $19,079,295 | 1165 |
| Jason Soules | D | 15 | Edmonton Oilers | $107,510 | 5849 | $246,939 | 6064 |
| Jamie Heward | D | 16 | Pittsburgh Penguins | $3,186,575 | 2426 | $5,666,357 | 2301 |
| Shayne Stevenson | RW | 17 | Boston Bruins | $185,556 | 5451 | $434,787 | 5577 |
| Jason Miller | C | 18 | New Jersey Devils | $156,194 | 5549 | $364,058 | 5709 |
| Olaf Kolzig | G | 19 | Washington Capitals | $43,832,857 | 365 | $76,231,966 | 229 |
| Steven Rice | RW | 20 | New York Rangers | $2,435,804 | 2750 | $5,129,409 | 2418 |
| Steve Bancroft | D | 21 | Toronto Maple Leafs | $120,000 | 5759 | $275,627 | 5961 |