Stauskas signed a G League deal with Iowa this offseason, joining the Wolves with six years of NBA experience.
The Timberwolves and Stauskas agreed to a contract on Thursday, Dane Moore of BringMeTheNews.com reports.
Stauskas was waived by the Pacers on Thursday, Adrian Wojnarowski of ESPN reports.
Stauskas was traded from the Celtics to the Pacers on Friday along with four other players and a 2023 first-round pick in exchange for Malcolm Brogdon, Adrian Wojnarowski of ESPN reports.
Stauskas appeared to suffer a lower leg injury in the final minutes of the Celtics' Game 2 win over the Heat on Thursday, Keith Smith of Spotrac.com reports.
Stauskas logged zero statistics across two minutes of court time Tuesday in the Celtics' 109-86 win over the Bucks in Game 2 of the Eastern Conference semifinals series.
Stauskas (ankle) is off the injury report for Sunday's Game 1 against the Nets, Keith Smith of Spotrac.com reports.
Stauskas (ankle) is out Sunday at Memphis.
Stauskas is listed as out for Wednesday's game against the Bulls with a right ankle sprain.
Stauskas was assigned to the G League's Maine Celtics on Saturday.