The Chicago Bulls released Murphy on Thursday, choosing to use his roster spot for a perimeter player to bolster the Bulls for a playoff run.
To make room on the 15-man roster for Murphy, the Jazz waived center Andris Biedrins.
Murphy, a 6-foot-10 rookie out of the University of Florida, was the 49th overall pick in the 2013 NBA draft.
Biedrins, a 7-footer, played in six games for the Jazz this season. He came to Utah a year ago as part of a salary dump for draft picks from the Golden State Warriors.