Adrian Wojnarowski of ESPN noted there are no options on the contract.
This will be the first time Green will return to the same team after an offseason since 2017, playing games for four teams in the past four seasons before the latest deal. He was a part of three trades since 2018.
The 34-year-old continues to have success in every location, reaching the playoffs in each of the last 11 years while winning three titles with three different teams.
Green helped win an NBA championship with the Toronto Raptors, San Antonio Spurs and Los Angeles Lakers, starting every playoff game for all three title runs. He was also a starter for the 76ers while helping earn the No. 1 seed in the Eastern Conference. The squad reached the second round in 2021 before losing to the Atlanta Hawks.
While he is rarely a go-to option, he is usually locked into the starting lineup for each team he plays for as a key two-way presence who provides elite shooting from beyond the arc. The veteran finished last season averaging 9.5 points, 3.8 rebounds and 1.3 steals per game while shooting 40.5 percent from three-point range.
The outside shooting has been Green's calling card throughout his time in the NBA, hitting 40.1 percent of his attempts from deep through 12 seasons. He set a career high with a 45.5 percent mark from three-point range in 2018-19.
Green has also built a reputation as one of the better perimeter defenders in the league, totaling at least two defensive win shares in each of the last 10 years, per Basketball Reference.
Philadelphia clearly enjoyed his contributions as he provided the team exactly what was missing during the previous few seasons. The return will help keep this group among the top contenders in the NBA heading into 2021-22.