DeRozan, 37, will be entering his 18th season after averaging 18.4 points per game with the Sacramento Kings last season - his lowest PPG since the 2012-2013 season (18.1).
The signing came shortly after the Nuggets traded Peyton Watson to the Cleveland Cavaliers in a deal also involving the Los Angeles Clippers and Washington Wizards (details here).
NBA insider Chris Haynes was the first to report the signing.
Before last year, DeRozan posted 10 straight seasons averaging at least 20 points per game as one of the league's most consistent scorers. His free throw percentage hasn't dipped below 85%, nor his three-point percentage below 32%, in each of the past five seasons.
How the Nuggets will include DeRozan in the rotation for the upcoming season is up to them. His 31.2 minutes per game last season were the lowest since his rookie year in 2009 (21.6).
DeRozan is a three-time All-NBA forward and one of the most durable players in the league. He has played in fewer than 70 games in a season just three times in his career (excluding the 2020 COVID season).
His 26,711 career points are the second-most by any active player without a ring (James Harden - 29,339).