The team didn't disclose financial details of the agreement.
The Chicago Bulls selected Patton with the No. 16 overall pick in the 2017 NBA Draft out of Creighton. The Bulls then traded him on draft night to the Minnesota Timberwolves as part of the Jimmy Butler deal.
In his first two NBA seasons, Patton -- listed at 6-foot-11 and 241 pounds -- appeared in only four combined games for the Timberwolves and Philadelphia 76ers due to two foot surgeries.
Patton has averaged 1.8 points, 1.2 rebounds and 0.6 assists in nine career games with the Timberwolves, 76ers and Thunder.