In the 1997–98 season Kölzig led the Capitals to the Stanley Cup Finals. In the playoffs, he became only the tenth goalie in NHL history to record four shutouts in one postseason. The Caps were swept in the Final by the defending champion Detroit Red Wings. Then, in 2000, he won the Vezina Trophy as the NHL's best goalie after going 41–20–11 with a 2.24 GAA and five shutouts. Kölzig also has the distinction of being one of four goaltenders to play a scoreless period during an NHL All-Star Game, having done so at the 2000 All-Star Game.

This Washington Capitals Koho jersey was signed in black by Kolzig and includes a Great Moments COA.