Jones agreed to a contract with the Cavaliers on Wednesday, Paul Garcia of The Spot Up Shot reports.
The exact terms of the deal are unknown, though it wouldn't be surprising to see Jones compete for a spot on the regular-season roster during training camp. He appeared in 10 regular-season games with Denver while on a two-way pact last season, averaging 2.9 points, 1.1 rebounds and 1.0 assists in 8.8 minutes per contest.