The team announced the signing Monday. Foyle was dealt to Memphis in a three-team deal just before the Feb. 19 trade deadline that brought point guard Rafer Alston to Orlando from the Houston Rockets. The Magic needed an upgrade at point guard after All-Star Jameer Nelson's season-ending shoulder injury. Memphis waived Foyle on March 1.
Magic coaches have touted the 34-year-old Foyle as a strong practice partner for center Dwight Howard. His re-signing is likely for those purposes.
Foyle played in five games this season with the Magic, averaging 1.2 points and 2.2 rebounds.