The team announced the signing of the Final Four MVP Thursday.
The terms of the contract were not announced.
Arcidiacono is currently playing on the Spurs 2016 NBA Summer League team, where he's averaging 2.4 points, 2.7 rebounds and 2.3 assists in 19.4 minutes in seven total games.
The Langhorne, Bucks County native also worked out for the Philadelphia 76ers last month.
The Villanova standout was instrumental in the Wildcats winning the National Championship. He scored 16 points and set up the winning buzzer-beater three-pointer in the championship game.