Lowe played for the Timberwolves in their inaugural season and spent a year as a team broadcaster before also working as an assistant coach and head coach for the franchise. He spent the past three seasons as an assistant with the Utah Jazz.
"We are excited to add Sid Lowe to our coaching staff," said Saunders in a statement Friday. "I have great respect for Sid. He has a great basketball mind and an extensive coaching background as a head and assistant coach in both the NBA and collegiate levels, which will be extremely valuable on our staff. Sid relates well with players and will play an important role in the development of talent on our roster."
It will be Lowe's fourth time coaching alongside Saunders. He previously served as an assistant under Saunders with the Wolves from 1999-2000 and 2003-05, and also worked with him in Detroit from 2005-06.
Lowe's playing career included stops with the Hornets, Pacers, Pistons and Hawks, in addition to the Timberwolves in their first year of 1989-90. He joined the broadcast team the following season and became an assistant under Jimmy Rodgers in 1991-92.
A promotion to the head coaching position came midway through the 1992-93 campaign and he compiled a record of 13-40 to finish the season before a mark of 20-62 in his lone full season at the helm in 1993-94.
Lowe was also an NBA head coach with the Vancouver/Memphis Grizzlies from 2000-03. He was fired after an 0-8 start to the 2002-03 season after posting consecutive marks of 23-59.
The captain of North Carolina State's 1983 NCAA title team, he also guided the Wolfpack to a record of 86-78 during five seasons as head coach from 2006-11.