ASVEL, based in Villeurbanne, near Lyon in southeast France, announced Wednesday that Parker will join the team.
Parker told the sports daily L'Equipe that the decision is "logical." He is vice president of the club and wants to help it advance.
"I'll be playing nearly for free ... If I play the entire season, we'll go for the title," he said.
Parker has won three NBA championships with the San Antonio Spurs and is a three-time All-Star.
He expects to play his first game Oct. 14 against Paris.
