The contract is worth $29 million over four years, sources said.
Calderon, 31, has averaged 10.1 points, 7.2 assists and only 1.7 turnovers per game in eight NBA seasons. The Mavs long have been intrigued with his intelligence, shooting accuracy and ability to run an offense, inquiring about him in trade talks with the Toronto Raptors twice last season.
The Detroit Pistons made an effort to re-sign Calderon after he averaged 11.6 points and 6.6 points for them after a trade-deadline arrival from Toronto.
The Sacramento Kings also made a serious push for Calderon, who opted to play for a team with a better opportunity to make the playoffs.