Barbosa signed with Rio de Janeiro-based club Flamengo. The deal includes a clause that would allow him to return to the NBA if the lockout ends.
A statement on Flamengo's website says Barbosa signed Thursday. Details of the deal weren't released.
Barbosa averaged 13.3 points, 2.1 assists and 24.1 minutes in 58 games last season -- his first in Toronto.
He made $7.1 million last season and was second on the team in 3-point shooting.
The 28-year-old Barbosa, who's in his eighth year in the NBA, was voted 2006-07 NBA Sixth Man of the Year while with the Phoenix Suns.