On 30 July 2009, he was traded to the Toronto Raptors for Devean George,[2] joining Italian national squad teammate Andrea Bargnani.

[5] Since joining the Bulls, Belinelli developed a reputation as a clutch player, hitting shots that include a game winning shot against the Celtics in overtime while falling down, a go-ahead layup against the Detroit Pistons after Joakim Noah saved the ball from going out of bounds, a game-winning lay-up with 20 seconds remaining against the Brooklyn Nets, and a 3 pointer to give the Bulls a 1-point lead with 5 seconds remaining in a game vs. the Utah Jazz.

[citation needed] Belinelli and Joakim Noah each scored 24 points in a game 7 victory over the Brooklyn Nets in the first round of the 2013 NBA Playoffs.

In Game 3 of the 2014 NBA Finals against the two-time defending champion Miami Heat, Belinelli hit a crucial 3 pointer in the third quarter that increased San Antonio's lead back to double digits.

[18] On 26 November 2020, Belinelli left the NBA and returned to Italy signing a three-year deal, until June 2023 with Virtus Bologna.

[22] Moreover, after having ousted Lietkabelis, Ulm and Valencia in the first three rounds of the playoffs, on 11 May 2022, Virtus defeated Frutti Extra Bursaspor by 80–67 at the Segafredo Arena, winning its first EuroCup and qualifying for the EuroLeague after 14 years.

[23] However, despite having ended the regular season at the first place and having ousted 3–0 both Pesaro and Tortona in the first two rounds of playoffs, Virtus was defeated 4–2 in the national finals by Olimpia Milan.

[24] On 29 September 2022, after having ousted Milano in the semifinals, Virtus won its third Supercup, defeating 72–69 Banco di Sardegna Sassari and achieving a back-to-back, following the 2021 trophy.

In June, after having ousted 3–0 both Brindisi and Tortona, Virtus was defeated 4–3 by Olimpia Milan in the national finals, following a series which was widely regarded among the best in the latest years of Italian basketball.

On 24 September, after having ousted Olimpia Milano in the semifinals, Virtus won its fourth Supercup, and the third in a row, defeating 97–60 Germani Brescia.