Reath signed a two-way contract with the Trail Blazers on Monday, Adrian Wojnarowski of ESPN reports.
Reath was let go by Portland on Saturday but will quickly rejoin the team on a deal that will allow him to easily move between the G League and parent club. He hasn't yet appeared in a regular-season game in the NBA but could have a chance to carve out some minutes for the rebuilding Trail Blazers this year.