The 22-year-old forward was taken with the 58th pick in the June draft.
He averaged 15.4 points, 8.6 rebounds and 1.4 blocks starting all five games for the Lakers’ entry in the Las Vegas summer league.
Caracter averaged 14.1 points and 8.1 rebounds at UTEP last season. He played his first two seasons at Louisville before transferring for his junior year.
Terms of the deal announced Friday weren’t disclosed.
The Lakers signed their other second-round pick, forward Devin Ebanks, a day earlier.