The 24-year-old has been looking for a franchise that can offer him valuable minutes on the court and a prominent role in the offence, something Miami are capable of with a new-look squad heading towards next season.
He should slide right into the starting five alongside point guard Goran Dragic and offer the explosive style that made him such a strong component of the Thunder's rotation as they reached the conference finals.
There are definite similarities between Wade and his replacement, the ex-OKC two guard likes to absorb contact as he attacks the basket while he is a scorer who relies on his mid-range game and prefers an assault on the rim as opposed to pulling up from behind the arc.
There is certainly a lot of upside to the reported 2-year deal - that will cost $6 million with a player option in the second year - for both the player and franchise. He will be a primary option at the American Airlines Arena, offering him a chance to develop the talents that saw him shoot 41 percent and average 11.1 points per night in the playoffs.
If he can produce a consistent brand of basketball and help return the Heat to the playoffs next year then he will open himself up to the possibility of securing a lucrative deal.
It has the potential to be a good fit, Waiters just needs to make good on his early promise. Throughout the regular season, the New Jersey native averaged 9.8 points a night and was able to help keep OKC's rotation ticking over.
Without KD and Westbrook on the floor, he offered an emphasis in a highly passive team. The Heat will be looking to tap into that.