"I'm excited. Great organization with pieces around me that I'm excited about," Rondo told The Undefeated about going to the Bulls.
The second season of Rondo's deal is partially guaranteed, a source told ESPN's Brian Windhorst.
Chicago will be Rondo's fourth team in less than two years. He spent his first 8 seasons in Boston, winning a championship with the Celtics in 2008. The Celtics traded him to Dallas in December 2014, and Rondo spent last season in Sacramento.
Rondo averaged 11.9 points and an NBA-best 11.7 assists per game with the Kings. Last season was the fourth in which Rondo averaged a double-double and the first time he did so since 2012-13 -- the last of his four All-Star seasons with the Celtics.
He had at least 10 assists in 51 of his 72 games with the Kings last season, including two games in which he finished with 20 -- both against the Charlotte Hornets. He is going to a Bulls club that went 42-40 last season under then-rookie coach Fred Hoiberg as Chicago missed the playoffs for the first time in eight seasons.
Information from The Associated Press was used in this report.