Lin, who became a Rocket on Tuesday night when the Knicks declined to match Houston's free-agent offer, will be officially unveiled at a press conference Thursday.

Later Wednesday, Lin issued a statement through the Rockets, expressing thanks to the Knicks and excitement about going back to the Rockets.

"I loved this past year with the Knicks and truly appreciate the opportunity that New York gave me. The way the fans fully embraced me and our team was something I'll always cherish forever. It was an extraordinary and unforgettable time that was easily the best year of my life," Lin said in the statement.

"Now I am excited to be back with the Rockets. They made a very compelling pitch in terms of what I could bring to the team and for the city. I am also impressed with Mr. Alexander and the management's commitment to improving the team. I'm excited about contributing to the Rockets winning tradition and competing with my new teammates."

Lin was briefly in Rockets training camp before the season began. Houston waived him because they had already had Kyle Lowry and Goran Dragic on their roster.

The Rockets pays a hefty sum to get Lin back. The team's three-year deal with Lin worth about 25 million U.S. dollars and the third year is worth about 15 million.

Since earlier this year, Lin, a Harvard-educated guard and the first American-born NBA player of Chinese heritage, has become an international sensation, with his skills, humour and work ethic.

Lin averaged 22.1 points and 9.2 assists, making 47 percent of his shots, in his first 12 starts, keying a seven-game winning streak.