The 24-year-old re-signed with the Miami Heat on Thursday three years after leaving the Florida team.
After his time with the Heat, Beasley went on to play for the Minnesota Timberwolves from 2010 to 2012 and for the Phoenix Suns in 2012 and 2013.
News of Beasley's new contract comes after years of legal woes for drug related crimes and traffic violations.
Beasley was the No. 2 overall pick by the Heat in 2008.