Hansbrough, 27, spent the last four seasons with the Pacers after being drafted 13th overall in 2009.
An energy power forward, Hansbrough will provide the Raptors with a little interior depth, especially with their trade of Andrea Bargnani to New York. Hansbrough is a workhorse on the offensive glass, a decent mid-range player and an active defender.
The Pacers essentially swapped Hansbrough for Chris Copeland, who they agreed to terms with. Hansbrough was set to be a restricted free agent this summer, but the Pacers renounced his rights, making him unrestricted. They then signed Copeland, who is more of a stretch 4.
Hansbrough averaged 7.0 points and 4.6 rebounds in 81 games last season.