Mykhailiuk, 25, is 6-foot-7 appeared in 56 games last season, averaging 4.7 points. The No. 47 overall pick in the 2018 NBA Draft, Mykhailiuk has been a capable fill-in as a shooter for the Raptors. He has also spent time with the Lakers, Thunder and Pistons.
He signed a two-year deal with the option at the start of last season.
Right now, Mykhailiuk is behind the likes of Gary Trent Jr., Scottie Barnes, OG Anunoby and perhaps a few others on the depth chart. But clearly, he believes his salary is well worth attempting to earn more playing time in Toronto as he returns for another run.