Reid agreed to a four-year, $6.1-million contract with the T-Wolves, according to The Athletic's Shams Charania and Jon Krawczynski. The first year of the deal is guaranteed.
The 19-year-old was initially on track for a two-way deal but his quality performances in Las Vegas helped secure him a roster spot. NBA teams may have up to two players under such agreements; players will spend the bulk of their season in the G League and no more than 45 days with their NBA team.
"Naz Reid has come on the scene and - like many of us in this program - has a chip on his shoulder," said president of basketball operations Gersson Rosas. "He's got something to prove."
Reid was a five-star recruit coming out of high school and averaged 13.6 points and 7.2 boards per game during his lone collegiate season at LSU. He was projected to be a second-round pick but went undrafted.
"I want to thank the Timberwolves for believing in me when nobody else did," Reid told reporters Thursday, according to SB Nation's John Meyer. "Not being drafted humbled me. It put a bigger chip on my shoulder."
The 6-foot-10 power forward bounced back at the Las Vegas Summer League, as he posted 11.9 points and 5.4 rebounds in 18.6 minutes per contest en route to helping Minnesota reach the championship game.