Lin spent last season with the Hornets but exercised an opt-out to void the second year of his contract became a free agent. In 78 games with Charlotte last season, Lin averaged 11.7 points, 3.2 rebounds and 3.0 assists.
Brooklyn will be Lin’s sixth NBA team, after spending his first six years in the league with the Warriors, Knicks, Rockets, Lakers and Hornets.
The Nets waived reserve point guard Jarrett Jack on Thursday. Brooklyn also selected guards Caris LeVert and Isaiah Whitehead in this year’s draft.