"I’m happy to welcome Wesley back to our team and am excited to see him develop further after taking such great strides last season," said General Manager Mitch Kupchak in a statement. "Wesley possesses elite athleticism, and has the potential to develop into an excellent defender."
Although the team didn't release terms of Johnson's contract, it's thought to be for one year at the $981,084 minimum.
By the complex rules of the NBA's collective bargaining agreement, returning on a one-year deal gives Johnson the ability to block a trade -- should the Lakers choose to move him before the deadline in February.
Johnson could end up in the starting lineup this season at small forward, or off the bench, perhaps behind Xavier Henry, who re-signed last week.
Last season, Johnson averaged 9.1 points and 4.4 rebounds through 79 appearances. The 27-year old, 6-foot-7 Johnson was originally selected with the fourth overall pick in the 2010 NBA draft.
Rookie Jordan Clarkson (46th overall pick) is likely to sign as the 13th. The Lakers can bring as many as 20 players to training camp but must carry between 13 and 15 to the regular season.
The Lakers' payroll thus far totals $67.4 million.