Jones, 35, joined the Cavaliers for his 12th NBA season last year and played in only one game, totaling 13 points, five rebounds, two assists, one steal and two blocks.
He appeared in 15 postseason games with the Cavaliers, averaging 1.1 points in 3.3 minutes per game.
Cleveland beat the Golden State Warriors in seven games, erasing a 3-1 series deficit to claim the franchise's first championship.
Jones was waived by the team on July 30.
The Cavaliers re-signed Jones on Sept. 26 and he played in two preseason games, averaging 4.5 points and 2.5 rebounds in 20.4 minutes.
Jones has career averages of 5.4 points and 1.7 rebounds in 15.7 minutes per contest over 623 games with eight different teams.