The deal was announced Tuesday before the Hawks faced the Bulls in Chicago.
Martin started the season with the Hawks but was waived on Jan. 7. He then signed two 10-day contracts with the Bulls, and played six games, but wasn't kept by Chicago for the remainder of the season. Atlanta then signed him to a 10-day contract on Feb. 1.
Martin, who has played in 33 total games this season, is averaging 5.8 points and 1.8 rebounds.
Hawks coach Mike Budenholzer said Martin is ''somebody that's doing a lot of the things we're emphasizing.''