"Shaun was a huge part of three NBA championship teams with the Warriors, but his overall journey is what is most remarkable," Warriors CEO Joe Lacob said in a statement. "He overcame incredible odds following a devastating injury, wore nine different NBA uniforms during his comeback, had a stint in the D-League and, fittingly, ended up being a major contributor on one of the best teams in NBA history."
Livingston, who will be 34 before the start of next season, joins a free-agent market that is full of contending teams searching for championship-hardened veterans to fortify benches.
The versatile, 6-foot-7 Livingston has shown himself to be one of the league's savviest players and strongest locker room presences.
The Warriors will use the waive-and-stretch provision to spread the $2 million guarantee on Livingston's $7.7 million salary for 2019-20 over three seasons, sources told ESPN's Bobby Marks.
The waive-and-stretch -- spreading $666,000 over three years -- keeps Golden State slightly under the $138.9 million tax apron.
The Warriors have made a push this offseason to get younger and more fit financially, trading Andre Iguodala and now waiving Livingston, after the loss of Kevin Durant to the Brooklyn Nets in free agency.
Livingston averaged 15 minutes a game over the past two seasons for the Warriors, with whom he spent five seasons.