"Well I guess this is hello again," Frye posted on Instagram with a picture of himself in a Cavaliers uniform.
Frye, 35, was traded from the Cavs to the Los Angeles Lakers in February as part of Cleveland's dramatic roster overhaul in an attempt to change the course of their floundering season.
Frye was a popular locker room presence during his first stint with the Cavs and became a fan favorite for his sense of humor and outside shooting stroke during Cleveland's 2016 championship run.
Here is the cap breakdown in Cleveland after the Channing Frye signing ($2.4M veteran exception with a $1.5M cap hit): The Cavaliers now up to $111.9 million in salary with 11 guaranteed contracts and 2 players with non-guaranteed, Kendrick Perkins and Okaro White. The contract for White has $750K guaranteed if the forward is not waived by August 5. The Cavaliers still have restricted free agent Rodney Hood unsigned and are currently $11.9 million below the tax.
The Frye signing was earlier reported by Yahoo! Sports.