CJ McCollum sealed a move to the Pelicans ahead of the NBA trade deadline as New Orleans and the Portland Trail Blazers announced an initial seven-player deal.
The agreement ends McCollum's long and successful stay with Portland, who acquired him with the 10th overall pick in the 2013 draft.
The 30-year-old shooting guard is averaging 20.5 points, 4.3 rebounds and 4.5 assists in an average 35.2 minutes per game this season. His field-goal record (.436) and three-point shot success rate (.384) are both slightly down on his career averages (.453 and .396).
The Pelicans announced his signing in a statement that read: "The New Orleans Pelicans announced today that the team has acquired CJ McCollum, Larry Nance Jr and Tony Snell in a trade with the Portland Trail Blazers.
"In exchange, New Orleans has conveyed Nickeil Alexander-Walker, Josh Hart, Didi Louzada, Tomas Satoransky, a protected 2022 first round draft pick, and two future second round draft picks."
Including the ongoing campaign, McCollum has averaged at least 20 points per season for each of the last seven years with Portland.
In early December, the Trail Blazers revealed McCollum had suffered a collapsed right lung. He missed 18 games, returning for a January 17 win over the Orlando Magic.
Portland interim general manager Joe Cronin said: "On behalf of the Trail Blazers organisation, I want to thank CJ McCollum for the integral role he has played in the success of the franchise over the last nine seasons and for his countless acts of service to the Portland community.
"CJ has cemented himself in Trail Blazers history with his elite skill level and memorable moments on the court as well as with the work ethic, professionalism and generosity he displays behind the scenes."