The 27-year-old Walton, who has played all of his four NBA seasons with the Lakers, had become an unrestricted free agent and received a six-year deal, reportedly worth $30 million, to remain with the team.

That would more than triple the $1.4 million salary he received last season.

The 6-foot-8 Walton averaged career highs of 11.4 points, five rebounds and 4.3 assists in 60 games last season, all starts. He played 33 minutes a game, led the team in scoring twice, five times in rebounds and 18 times in assists.

He scored 20 or more points four times, including a career-high 25 on Dec. 8 against Atlanta, when he went 10-of-18 from the floor.

"This is where I wanted to be when the whole free agency started, and the fact that we could agree on a six-year, long-term deal is very exciting to me," Walton said today at a news conference at the Lakers' training facility.

"I'm looking forward to helping this team and getting back to the playoffs and eventually bringing some more championships back to Los Angeles, where the trophies belong."

Walton, the son of NBA Hall of Fame member Bill Walton, was taken out of the University of Arizona by the Lakers with the third selection in the second round (32nd overall) in the 2003 NBA draft. He has averaged 10.6 points, 5.1 rebounds and 4.1 assists in 73 career starts with the Lakers.