The 31-year-old will earn $2.3 million, a source told The Athletic's Anthony Slater.
Bazemore split the 2019-20 season between the Portland Trail Blazers and Sacramento Kings, joining the latter as part of a five-player trade in January. He averaged 10.3 points and 4.9 rebounds over 25 games with Sacramento while shooting 38.4% from deep. The Kings fell short of the final playoff seed in the Western Conference.
The agreement also means Bazemore is returning to Golden State, where he began his NBA career in 2012. He'll likely serve as a key depth piece on the wing next season for the Warriors, who continue to fill out their roster while dealing with All-Star Klay Thompson's season-ending Achilles injury.