Gutierrez played for Bucks head coach Jason Kidd last season as a member of the Brooklyn Nets. Last season in Brooklyn, the Cal product averaged 4.1 points and 2.0 assists in 15 appearances.
Gutierrez is being signed by the Bucks to compensate for the loss of Kendall Marshall, who is out for the season after tearing the ACL in his right knee.
The 26-year-old guard played in 10 games for the Nets this season before he was acquired in a trade by the Philadelphia 76ers and was immediately released by the team. He signed with the Canton Charge of the D-League, where he averaged 15.2 points and 6.0 assists per game.
The Bucks are allowed to sign Gutierrez after center Larry Sanders sat out the fifth game of his 10-game suspension for violating the league's drug policy.
At 23-22 on the year, the Bucks are the No. 6 seed in the Eastern Conference. They play at the Orlando Magic on Thursday.
- Jack Jorgensen