Antetokounmpo returns for his fifth season with Milwaukee after playing 37 games last season while shooting a career-low 43.5% from the field.
He has appeared in 162 games (11 starts) for the Bucks over the past four seasons, averaging about 8.4 minutes per game, 2.7 points and 1.8 rebounds.
Antetokounmpo is scheduled to play for the Greek national team in the World Cup next month.
This will be Antetokounmpo's sixth season in the NBA, after originally being drafted by the New York Knicks in the 2014 NBA draft. He joined New York's developmental league affiliate in Westchester before making his NBA debut during the 2015-16 season and then played three seasons in Europe before joining younger brother and two-time MVP Giannis Antetokounmpo in Milwaukee.
The Bucks have reached the maximum 15 guaranteed contracts on their roster.