The team announced the move Tuesday. Nedovic did not appear in Golden State's first six games this season.
The Suns selected Nedovic with the 30th overall pick in the 2013 draft before the Warriors acquired the Serbian in a deal with Phoenix that night. Nedovic appeared in 24 games as a rookie last season, averaging 1.1 points, 0.6 rebounds and 0.5 assists in 5.9 minutes.
He also spent 15 games with the team's NBA Development League affiliate in Santa Cruz.