McClung took home the 2024 AT&T Slam Dunk Contest title Saturday, defeating the Celtics' Jaylen Brown in the final round.
McClung was waived by the Magic on Saturday, Philip Rossman-Reich of OrlandoMagicDaily.com reports.
McClung and the Magic agreed to a partially guaranteed deal Tuesday, Shams Charania of The Athletic reports.
McClung posted 20 points (8-17 FG, 3-9 3Pt, 1-3 FT), nine rebounds and nine assists in 33 minutes during Sunday's 134-105 win over Brooklyn.
Philadelphia signed McClung to a two-way contract Tuesday, Shams Charania of The Athletic reports.
McClung posted 40 points (15-20 FG, 7-9 3Pt, 3-4 FT), eight assists and four rebounds in 27 minutes during Monday's 153-132 win over the Wisconsin Herd.
McClung totaled 28 points (10-13 FG, 1-3 3PT, 5-5 FT), seven assists, four rebounds and two steals in 28 minutes during Thursday's 149-137 win over Maine.
McClung totaled 27 points (9-14 FG, 2-6 3Pt, 5-5 FT), six assists, three rebounds, one steal and one block in 28 minutes during Sunday's 121-117 win over Greensboro.
McClung tallied 26 points (9-11 FG, 3-4 3Pt, 2-2 FT), four assists and one steal in 27 minutes during Monday's 125-107 win over Grand Rapids.
McClung recorded 19 points (8-13 FG, 3-4 3Pt, 0-2 FT), six rebounds, six assists and three steals in 23 minutes during Monday's 127-107 win over Austin in the G League Showcase.