Rockets interim coach J.B. Bickerstaff was an assistant in Minnesota when Beasley was a member of the Timberwolves, which likely had an impact on the multi-year deal.
Beasley put together a terrific 2015-16 campaign in his first season overseas, earning foreign MVP honors in the Chinese Basketball Association. The 26-year-old averaged 31.9 points, 13.2 rebounds, 3.8 assists, 1.3 blocks, and shot 37.1 percent from three as a member of the Shandong Golden Stars.
The former No. 2 overall pick last played in the NBA as a member of the Miami Heat in 2014-15, averaging 8.8 points and 3.2 rebounds in 24 games.
With Houston (29-31) clinging to a playoff spot, the Rockets will hope Beasley's shooting and athleticism will give the team the boost it needs to reach the postseason for the fourth straight season.