Carter, an eight-time All-Star selection, will play in an NBA-record 22nd season, his second year with the Hawks. Following the season, the 1999 NBA Rookie of the Year plans to retire, according to ESPN.
The wing player will help mentor the Hawks' young roster, which includes seven players under the age of 23. Carter averaged 7.4 points and 2.6 rebounds in 17.5 minutes per game last season.
Carter will pass Kevin Garnett, Dirk Nowitzki, Robert Parish and Kevin Willis, each of whom appeared in 21 NBA seasons. He has spent time with the Toronto Raptors, then-New Jersey Nets, Orlando Magic, Phoenix Suns, Dallas Mavericks, Memphis Grizzlies, Sacramento Kings and Hawks.
The above-the-rim star has averaged 17.2 points, 4.4 rebounds and 3.2 assists per game in 1,481 career regular-season games. Carter also won an Olympic gold medal, and captured the NBA dunk contest crown in 2000.