McCollum agreed to a one-year, $21 million contract extension with the Hawks on Sunday, Shams Charania of ESPN reports.
McCollum will avoid free agency and remain with Atlanta after being acquired from the Wizards in January. Over 41 regular-season appearances (25 starts) with the Hawks last season, the veteran guard averaged 18.7 points, 4.1 assists, 3.1 rebounds and 1.0 steals while shooting 45.6 percent from the floor in 28.8 minutes per showing.