Terms of the deal were not disclosed.
The Magic acquired the draft rights to Marble (56th overall pick), along with guard Evan Fournier, from Denver in exchange for Arron Afflalo on June 26.
Marble played in 136 career games during four years at the University of Iowa, averaging 12.5 points per game.
As a senior, Marble played and started in 33 games, averaging 17.0 points per game and earning First Team All-Big Ten honors.
Marble is the son of Roy Marble, a former NBA player and the all-time leading scorer in Iowa history.