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The pick is the Miami Heat‘s first-round selection this year, which is owned by the Raptors.
Johnson was selected in the first round of the 2009 draft by the Bulls out of Wake Forest, but the 6-foot-9 small forward has averaged career totals of just 3.8 points and 1.9 rebounds per game.
“It [stinks],” Bulls center Joakim Noah said. “I consider J.J. a little brother. But he wasn’t playing a lot, and I wish him nothing but the best. And I hope that he gets an opportunity to get out there on the court and show what kind of player he is.”
The Bulls face the Raptors on Wednesday.
ESPN The Magazine’s Ric Bucher first reported the move.
ESPNChicago.com’s Nick Friedell contributed to this report.