The team announced the deal on Thursday, along with the signing of guard Marcus Foster.
The deal with Brooks is for four years, according to ESPN.
Brooks originally signed a two-way contract with the Rockets on April 3 after playing for their G League affiliate, Rio Grande Valley. The 6-foot-3 guard appeared in 20 games with five starts for Houston last season while averaging 11.2 points, 3.4 rebounds, and 1.5 assists in 26.0 minutes per game. The University of Houston product is shooting 9-of-16 from 3-point range this preseason and has the most 3-pointers made (60) through the first 20 games of a career in NBA history.
Foster was eligible for the 2018 NBA Draft following his redshirt senior season at Creighton. The 6-foot-3 guard spent last season playing for Panathinaikos of the Greek Basket League and Turk Telekom of the Turkish Basketball Super League. Foster appeared in four games for the Rockets during the 2021 NBA Summer League in Las Vegas.
In a related move, the Rockets have waived forward Tyler Bey.