Snell averaged 12.5 points and 2.9 assists last season and was named MVP of the Mountain West Tournament. He'll make about $1.2 million as a rookie under the NBA's salary scale.
The Bulls also signed second-round pick Erik Murphy, the 49th overall selection. A 6-10 forward out of Florida, Murphy was a first-team All-SEC performer last season when he averaged 12.2 points and 5.5 rebounds while shooting 45.3 percent from deep.
Both will play for the Bulls in the Las Vegas summer league.