Mitchell is coming off an impressive sophomore campaign, during which he averaged 23.8 points, 4.2 assists, 4.1 boards, and 1.4 steals across 77 appearances. He became the first sophomore guard to post more than 23 points per game since Dwyane Wade during the 2004-05 season.
The 23-year-old Mitchell previously finished second to Ben Simmons in 2017-18 Rookie of the Year voting.
Utah also picked up its $3.5-million team option on center Tony Bradley for the 2020-21 season. Bradley has spent the majority of his career with the Jazz's G League affiliate, where he's averaged 14.5 points and 8.7 boards across 44 appearances since 2017.