The rookie-scale contract will pay Dončić US$5.46m next season, US$6.4m in the 2019/20 season, and US$6.7m during the 2020/21 campaign, according to the official website of the Texas team.
In the fourth year of contract, the Slovenian will receive a 26.4% increase on his third-year salary, or the Mavericks can sign him to a long-term extension if they want to.
While the contract has been signed, it is highly unlikely that Dončić will play in any of the Mavericks's remaining summer league games aimed at trying out young players.
The Slovenian has been put on the roster, but head coach Rick Carlisle wants to give Dončić some rest after two exhausting campaigns in Europe, where he played for Real Madrid and the Slovenian national team.
"It's been a long time," Dončić told the website as he signed the contract. "I'm so excited. I know I can just play, so that's what I want to do, just play."
Dončić, who has been working out on his own during practice session, will most probably play his first game for Dallas only in October, when the Mavericks will open the NBA pre-season in China.