Lin was expected to sign a deal but couldn't get the clearance before the 11 p.m. ET deadline.
Instead, the Warriors signed guard Eli Pemberton and waived him shortly afterward. They're expected to send Pemberton to the G League Santa Cruz Warriors since they still have his rights.
Lin, 32, played for the Beijing Ducks last season. He has recently been working out and playing in scrimmages with the G League's new development team. Lin previously has played in the G League twice, with Reno and Erie.
Lin averaged 11.6 points and 4.3 assists in 480 games in the NBA from 2010 to 2019. The former Harvard guard began his career with the Warriors during the 2010-11 season. Lin is best known for a hot scoring stretch -- one that led to wins with the New York Knicks during the 2011-12 season -- that was described as "Linsanity."