Favors, 31, is 6-foot-9 and signed his 10-day deal with the Hawks back on Jan. 11, but did not appear in a game.
He was waived by the Rockets back in October, after being acquired in a trade with the Thunder — who acquired him early in the offseason from the Jazz.
Favors returned to the Jazz before the start of last season after a one-year stint with the Pelicans. He averaged a career-low 5.4 points, as well as 5.5 rebounds, in 68 appearances last year, all while coming off the bench.
Originally selected with the No. 3 overall pick in the 2010 NBA Draft, Favors has also spent time with the Nets, as a rookie, and the Pelicans.