The Celtics announced Nov. 19 they had extended qualifying offers to fall and Tremont Waters.
Fall made seven appearances for the team, finishing with 23 points, 15 rebounds and four blocks in 33 total minutes on the floor.
Yahoo Sports' Keith Smith reported Boston is "thrilled" to get the 24-year-old back and that the team "was pleased with how far Fall came in his first year as a professional and is excited to continue working with Fall this coming season."
The most memorable moment of Fall's rookie season came in the Slam Dunk Contest, when Orlando Magic forward Aaron Gordon leapt over him for a two-handed jam.
He has become a fan favorite, both among Celtics fans and general followers of the NBA.
So much of the discussion about Fall focuses on his height it somewhat obscures the fact he could grow into a solid rotational center in the NBA. Suiting up for the Maine Red Claws in the NBA G League, he averaged 12.9 points, 11.1 rebounds and 2.9 blocks in just 23.3 minutes per game.
The two-way deal allows Fall to continue growing his game in the G League while being available to the Celtics in a pinch if they become thin at the 5.