The team officially announced the move on Twitter on Saturday night.
Booker was waived by the Philadelphia 76ers earlier this week in order to clear room for Ersan Ilyasova. Booker tweeted on Wednesday that he was Indy-bound, but the move could not be official until he cleared waivers:
At 35-27, the Pacers currently own the fifth spot in the Eastern Conference, although there is a team within a half-game on each side of them in the standings.
The 6'8" forward will give the Pacers depth up front and another scoring option. While he averaged just 4.7 points in 33 games after a midseason trade to Philadelphia, he started the year by averaging 10.1 points and 6.6 rebounds per game for the Brooklyn Nets.
Booker, 30, will provide Indiana with a veteran presence and solid minutes. At this point in the season, adding quality depth should only help the Pacers solidify their playoff status.