Carey, who already has been named the American Hockey League's Player of the Year for his early-season work with the Portland Pirates before being called up by Washington, finished the NHL regular season with an 18-6-3 record, a 2.13 goals-against-average and a .913 save percentage.
He also has been named as one of three finalists for the Calder Memorial Trophy (top rookie) and Vezina Trophy (top goaltender).
Carey is the first Capital to make the All-Rookie team since Scott Stevens, now with the New Jersey Devils, was selected in 1982-83.
Meanwhile, the Capitals have been unable to reach a contract agreement with rookie defenseman Brendan Witt for two years. If they can't come to terms by 12:01 a.m. July 8, Witt rejoins the pool for this year's draft in Edmonton, Alberta.
Capitals GM David Poile has said he will not trade Witt. He also has said if Witt is available when the Caps' first-round pick comes up (No. 17), "I'll take him again."
Washington has offered $3.6 million.
Witt is asking for $8 million, down from $8.4.