The team said Friday the unrestricted free agent has re-signed, a move coach Vinny Del Negro had mentioned a day earlier.
Billups averaged 15 points, 4 assists and 2.5 rebounds while playing 30.4 minutes in 20 games for the Clippers last season. His season ended in early February when Billups tore his left Achilles tendon in a game at Orlando. But he stayed with the team and served as a de facto coach during the Clippers' run to the Western Conference semifinals.
Billups had been claimed off waivers by the Clippers last December, a couple weeks before the lockout-shortened season began.