Haslem has spent all 11 of his NBA seasons with the Heat and is the franchise's all-time rebounds leader. He and Dwyane Wade are the only players to appear on all three of Miami's championship teams.
The Miami native opted out of a contract that would have paid him $4.6 million next season to give the team flexibility during free agency.
Haslem averaged 3.8 points last season. For his career, Haslem has averaged 8.6 points in 715 regular-season games.