Carmelo Anthony is signing a non-guaranteed deal with the Portland Trail Blazers, a source told ESPN.
The Blazers have tried at different times in the past to add Anthony and made an attempt to acquire him when he was with the Knicks.
Portland is lagging at the bottom of the Western Conference standings with a 4-8 record, having lost its past two games.
Anthony, 35, will join the Blazers on their upcoming six-game road trip, which starts Saturday against San Antonio, a source said.
Power forward was the position where the Blazers were most vulnerable, and an injury to Zach Collins only amplified the void there. Anthony returns to fill that need.
Anthony could fit in well with the Trail Blazers, who have struggled to get production from their forwards this season. They rank 27th in points per game (36.3), tied for 28th in assists per game (5.5) and last in field goal percentage (39%).
The Trail Blazers' isolation-heavy offense also could benefit with Anthony on board. Portland is second in the NBA in points per chance in isolation.
Trail Blazers star Damian Lillard said in September that the team has its sights set on an NBA title, and that's something Anthony has yet to achieve. He is one of 17 players in NBA history with 25,000 points and 6,500 rebounds; only four have not won an NBA title -- Karl Malone, Elvin Hayes, Dominique Wilkins and Anthony.
There was a time following his release by the Houston Rockets when Anthony said he questioned whether he wanted to play again, but he told ESPN's Stephen A. Smith in August that he was ready to return.
"I'm in the gym every single day," Anthony said. He also noted that "silence is not my surrender" and that he has been quiet until now because he felt he needed to step away from the game to "reevaluate myself, reevaluate my career, reevaluate my life."
Anthony, a 10-time All-Star and six-time All-NBA player, suited up most recently for the Rockets, for a 10-game stint that ended early in the 2018 season.
In addition to the Rockets, Anthony has played for the Oklahoma City Thunder, New York Knicks and Denver Nuggets, with his greatest success coming with the Knicks and Nuggets.
Anthony won the league's scoring title in the 2012-13 season, averaging 28.7 points per game. That season was the last time the Knicks made the playoffs and began a five-season absence from the postseason for Anthony, who had made the playoffs for 10 consecutive seasons over his time in Denver and New York.