Scola averaged 5.1 points and 3.9 rebounds in 36 games this season, falling out of the rotation as the league-worst Nets focused more on their younger players.
Nets general manager Sean Marks said Monday the Nets felt that Scola "deserved the opportunity to contribute to a playoff contender." Because he was waived by the March 1 deadline, Scola would be eligible to sign with another team and appear on its playoff roster.
Scola, 36, has averaged 12 points while playing for five teams in his 10 NBA seasons. He won an Olympic gold medal with Argentina in 2004.