Exelby, who had been playing for the IceHogs as their captain on a tryout, had to clear waivers before being re-assigned there. He is now eligible to be recalled to the Blackhawks.
"Organizationally, he gives us another added defenseman," Blackhawks coach Joel Quenneville said before Friday's game against the Anaheim Ducks.
Quenneville would not speculate if Exelby's recall to the Hawks was imminent.
Jesse Rogers covers the Blackhawks for ESPNChicago.com and ESPN 1000.