Terms of the contract were not released, but sources confirmed with ESPN's Dave McMenamin that it's a one-year deal for the veterans minimum.
Bryant was originally drafted by the Lakers in the second round of the 2017 draft, but he was waived after a rookie season that saw him play in only 52 games. He gives this Lakers team more frontcourt depth and a starting-caliber center to pair alongside Anthony Davis.
Bryant, who will turn 25 on July 31, played a combined 37 games over the past two seasons after a torn ACL cost him most of the 2020-21 and 2021-22 campaigns with the Washington Wizards.
A five-year pro, Bryant has career averages of 10.2 points and 5.7 rebounds per game and has established himself as a productive offensive big man since getting extended playing time in Washington.
The 6-foot-10 center averaged 13.2 points and 7.2 rebounds in 46 games during the 2019-20 season, his best year as a pro, before the knee injury took away most of the past two seasons.
Yahoo Sports first reported Bryant's deal with the Lakers.
ESPN's Tim Bontemps contributed to this report.