The 6-foot-9 swingman, who was obtained in the three-team, 13-player trade that sent Carmelo Anthony to New York, was waived Tuesday as the team made a flurry of moves.
Guard Kelenna Azubuike, who never appeared in a game this season and was limited to just nine games last season due to a knee injury, was also waived.
The Knicks acquired Azubuike in the David Lee sign-and-trade deal with Golden State over the summer.
The Knicks agreed to buyouts with both Brewer and Azubuike but did not release details. Brewer has been rumored to be on the way to a number of teams. He was inactive in three games with the Knicks.
Brewer was the 7th overall pick in the 2007 draft.
Team president Donnie Walsh announced on Tuesday night that the Knicks had re-signed Jared Jeffries as a free agent.
Jeffries, as expected, signed with the Knicks after reaching a buyout agreement with the Houston Rockets late last week.
The last time Jeffries was with the Knicks, Walsh was working his way out of a salary cap mess left by his predecessors. Now, Jeffries will join a team featuring All-Stars Anthony, Amare Stoudemire and Chauncey Billups in its' starting five.
"I'm excited. I love being in New York ... and having Amare and now Melo in New York, I heard it's an awesome environment and I want to be a part of it," he told the MSG Network in Orlando Tuesday night at the Knicks-Magic game.
Jeffries, a versatile defender, is expected to bolster the Knicks' rail-thin front line, which was weakened by the three-team, 13-player trade completed last Tuesday that sent Timofey Mozgov and three regular rotation players to Denver in exchange for Anthony and Billups, among others.
"I try to be a high-energy player and I think at my size at 6-11, it gives us an added dimension. I can guard inside and out. So I've tried real hard to stay in shape and I'll be ready to play," said Jeffries, who appeared in just 19 games for the Rockets this season.
Jeffries should be available for Wednesday's home game against the New Orleans Hornets.
He also told MSG on Tuesday night that he will wear No. 9 for the Knicks. The reason? He spoke recently with former Wizards teammate Michael Jordan, who reminded Jeffries that he wore the same number with the gold-medal winning team in the 1992 Olympics.
"He's a winner," Knicks coach Mike D'Antoni, speaking to reporters last Friday in Cleveland, said of Jeffries. "He played well with us."
The former Indiana University standout appeared in 236 games with New York, starting 135. Never known as a skilled offensive player, Jeffries averaged just 4.5 points on 43 percent shooting. He pulled down four rebounds and handed out 1.3 assists in 22.9 minutes per game in his Knicks tenure.
Jeffries was scheduled to make $6.9 million from the Rockets this season, the last of a five-year, $30 million deal he signed with ex-Knicks general manager Isiah Thomas on August 7, 2006. Terms of his buyout with Houston and new contract with the Knicks were not immediately available.
The Knicks also claimed 6-foot-8 forward Derrick Brown off waivers, who will fill Azubuike's roster spot.
Brown, a second-year player out of Xavier, was waived by the Charlotte Bobcats on Feb. 24.
Brown should help the Knicks in the paint. He holds career averages of 3.4 points, 1.7 rebounds and 10.4 minutes in 98 games (one start) over two seasons with Charlotte. The Bobcats selected him with the 40th pick of the 2009 draft.
Brewer started all 82 games for the Wolves last season and averaged a career-high 13 points and 3.4 rebounds per game. Limited to only 22 starts this season, his numbers dropped to 8.6 points and 2.7 rebounds per game.
Ian Begley is a regular contributor to ESPNNewYork.com.