Another big signing for Master P ... who just locked up Metta World Peace to join his new co-ed basketball league, TMZ Sports has learned. 

Peace will join the New Orleans Gators of the new Global Mixed Gender Basketball League -- and will play in his first game on Sept. 23rd in Las Vegas. 

A rep for the Gators tells TMZ Sports, "It was a no-brainer inking the deal with Metta World Peace. He’s in super shape and he’s well able to help any NBA team."

"He will be a huge factor in our league, he’s tough, competitive and plays excellent defense."

Peace was just in the NBA last season as a member of the Los Angeles Lakers. 

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As we previously reported, ex-college basketball sensations, the Gonzalez Twins, have also joined the league. 

Master P is the president of the league -- and has previously told us he's gunning to sign LaVar Ball.