Speights, a first-round pick in the 2008 NBA draft, declined his $2.1 million 2017-18 player option with the Clippers and became an unrestricted free agent.
The 6-foot-10 center appeared in all 82 games for the Clippers last season, averaging 8.7 points and 4.5 rebounds and shooting 37.2 percent from 3-point range.
“Marreese [Speights] has developed into a effective shooting big man during his pro career,” President of Basketball Operations Jeff Weltman said in a statement. “He is a veteran player that brings playoff and championship experience to our team. We are very happy to have Marreese and his family in Orlando.”
The Magic also made guard Arron Afflalo‘s signing official on Thursday. The 11-year NBA veteran, who shot 41 percent from beyond the arc for the Sacramento Kings last season gives Orlando leadership and 3-point shooting. Orlando also announced the signing of free agent center Khem Birch to a non-guaranteed contract. Birch played in Greece last season.
The Associated Press contributed to this report.