Parker, 34, played in 80 games last season for the Toronto Raptors and averaged 10.7 points, 4.0 rebounds and career highs of 3.4 assists and 1.3 steals.

"Anthony will be a solid addition to our roster. He is a very good, intelligent all-around basketball player," Cavaliers general manager Danny Ferry said on the team's website.

"Our coaching staff will especially appreciate the good shooting and solid defense that Anthony brings to our team."

Parker has played six years in the NBA, averaging 10.1 points and 3.4 rebounds in 290 NBA regular season games.

The six-foot-six (1.98 metres) forward also played five seasons with Maccabi Tel Aviv in Israel and one year with Italian club Virtus Roma.