Terms of the deal were not released due to team policy, but the league's rookie pay scale indicates Antetokounmpo will make somewhere around $1,493,800 next season.
The Bucks were allowed to give Antetokounmpo up to 120 percent and no less than 80 percent of that figure. All rookie contracts are four-year deals with the third and fourth years coming as team options.
Picked 15th overall in the 2013 NBA Draft, the 18-year-old will come over to the United States after spending last season with the Greek club Filathlitikos.
Unable to play with the Bucks in summer league due to a national team commitment, Antetokounmpo averaged 8.0 points, 7.6 rebounds and 2.2 assists per game for Greece in the U20 European Championships this summer.