Those are the same colors players wore when the Hornets were in Charlotte from 1988-2002, before the franchise moved to New Orleans.
The new color scheme will be accented by secondary colors of black, gray and light blue.
The Hornets name became available when New Orleans became the Pelicans this season.
Jordan said in a release Sunday that "it was important to us to acknowledge the heritage of the Charlotte Hornets when bringing the name back to the market" and "the purple and teal color scheme was instantly recognizable as being associated with the original Hornets."
On Monday, the organization will begin a three-week campaign focused on "painting the city" with the return of the purple and teal colors to Charlotte.