Bennett, the top pick in 2013, cleared waivers on Friday after a contract buyout with the Minnesota Timberwolves, and the Raptors emerged as strong frontrunners to sign him.
Bennett returns home in Canada with fresh opportunity and comfort. Bennett held a strong desire to return to his Toronto roots and play for the Raptors.
Bennett had his best stretch of basketball as a pro with the Canadian national team this summer. He was the top pick to the Cavaliers, but dealt with injuries and lack of a role in Cleveland. In Minnesota, Bennett fell out of the franchise’s future young core of Andrew Wiggins, Karl-Anthony Towns and Zach LaVine.
Bennett was acquired by the Timberwolves as part of the Kevin Love trade with the Cavaliers.
He averaged 5.2 points and 3.8 rebounds in 57 games for the Timberwolves last season. He declared for the NBA draft after playing one season at UNLV.