The Thrashers were to select 26 players, one from each existing franchise (except for the Nashville Predators) at the time of the draft. Each franchise was allowed to protect either one goaltender, five defensemen, and nine forwards or two goaltenders, three defensemen, and seven forwards. Teams which lost goaltenders in the 1998 NHL Expansion Draft (Anaheim, Los Angeles, Montreal, New Jersey and the New York Rangers) could not lose a goaltender in the 1999 Draft. 
The Thrashers were to choose at least three goaltenders, eight defensemen, and thirteen forwards. Their final two choices could be from any position.
These results are numbered 1–26 for aesthetic purposes, but the players were not necessarily chosen in this order. As the Thrashers were the only team participating in the draft, the order is inconsequential.