"We are excited to welcome Jodie to the Orlando Magic family," Hennigan said. "Jodie adds perimeter shooting and is another veteran presence. He adds depth to our backcourt, and we look forward to his contributions."
Meeks signed a three-year, $19.5 million contract with the Pistons in 2014 but has played only 63 games over the past two seasons. He missed the first 22 games of 2014-15 with a lower back injury. In 2015-16, he played only three games because he had surgery to repair a fracture in his right foot.
Meeks was drafted by the Milwaukee Bucks in 2010 out of Kentucky and has also played in Philadelphia and with the Los Angeles Lakers. He had his most productive season with the Lakers in 2013-14, averaging 15.7 points per game and making 40 percent of his 3-point attempts.
Meeks is a career 37.3 percent 3-point percent shooter.
The move frees up about $7 million in cap space for the Pistons.
"It gives us a little more margin," Detroit coach Stan Van Gundy said, according to NBA.com. "It gives us a little bit of space so that if the numbers start to go up a little, you've got a little bit of space to deal with. ... It goes give you a little bit more flexibility where you're not going to lose a guy over $100,000 or $200,000, something like that. That part of it was good."