Jeremy Lin won the NBA championship with the Toronto Raptors in June but will spend next season with the Beijing Ducks.
Lin joined the Raptors after being waived by the Atlanta Hawks in February, adding backcourt depth behind Kyle Lowry and Danny Green.
He became the first Asian-American player in league history to lift the Larry O'Brien Trophy, but he struggled in 23 regular-season games with Toronto and has found a new home in China.
"Thanks to the NBA and everyone who's supported me the last 9 years! Will always cherish being able to rep Asians at the NBA level. Excited for the next step with the Beijing Ducks. Excited to make more history," Lin wrote on Twitter.
The guard remained unsigned when free agency began and last month described how he felt like he hit a new level of "rock bottom" after receiving little interest from teams in the NBA.
He said: "In English, there's a saying, and it says, 'once you've hit rock bottom, the only way is up.'
"Rock bottom just seems to keep getting more and more rock bottom for me. So free agency has been tough, because I feel like in some ways the NBA's kind of given up on me."
Lin, who turned 31 last week, played nine seasons in the NBA for eight different teams, never spending more than two years with one franchise.