Monk, 23, is 6-foot-3 and struggled in his first three seasos with the Hornets, leading them to opt not to tender him a qualifying offer of $7 million. He therefore became an unrestricted free agent.
He becomes the latest of an impressive list of Lakers offseason additions, joining guard Russell Westbrook (trade), forward Carmelo Anthony, center Dwight Howard, small forward Trevor Ariza, shooting guard Wayne Ellington, and forward/guard Kent Bazemore.
Monk averaged 11.7 points on 43 percent shooting in 42 games last season. The Lakers are hoping he can continue that type of rise to assist in their need for perimeter shooting.