Jeff Panzer played college hockey for the University of North Dakota from 1997 to 2001. During the 1999-2000 season, his junior year, he tallied 63 points on 19 goals and 44 assists in 44 games. His performance earned him a top-ten nomination for the Hobey Baker Memorial Award and a First-Team All-American selection. He also won the WCHA scoring title with 44 points in conference play and helped lead North Dakota to a national championship in 2000.

After his collegiate career, Panzer signed as an undrafted free agent with the St. Louis Blues in 2001. His professional career was spent primarily in the AHL with the Worcester IceCats, Syracuse Crunch, and Grand Rapids Griffins. He also played internationally in Switzerland and Germany. Panzer played in 11 NHL games for the Blues and Atlanta Thrashers but did not record any points. He retired from professional hockey after the 2007-08 season.