The terms of the contract were not disclosed.
Sloan, 6 foot 3, 205 pounds, played with the Pacers from 2013-2015.
In 53 games (21 starts) last season for Indiana, Sloan, 27, averaged 7.4 points, 2.7 rebounds, and 3.6 assists per game.
Sloan, who spent four years at Texas A&M, went undrafted in 2010.
The process of throwing enough point guards against the wall and seeing which ones stick continues. Obviously, the buyout of Deron Williams left the Nets with a gaping hole they hope to fill with Jarrett Jack and a collection of buy-low candidates. Sloan is the latest, but I think he has a decent shot to stick and be on this team come Opening Night. Despite being undrafted, Sloan showed some flashes with the Pacers. With four point guards on the roster, he'll have to win an opportunity during camp.