The deal will be for $20 million, Sanford reported.
Green, 34, was linked several teams in free agency, including the Cavaliers, Celtics, Lakers and Pelicans, but is choosing to return to Philadelphia instead.
He averaged 9.5 points and 3.8 rebounds in 69 games last season. Along with the 76ers, Lakers and Cavs, he has also spent time with the Raptors and Spurs.
The 76ers, of course, are still contemplating trading star guard/forward Ben Simmons, who Green recently supported.
“With a guy like Ben and other guys, I think [fans] need to stick behind them, and stick by them as long as they can, until the horn blows,” Green said. “And even then, he’s here. He’s given so much to the organization and the city, on and off the court, that he deserves that respect and that support.
“I hope that things turn for him and the city of Philly, so where they don’t have that mantra as fans of being cold, rough, and one of the worst in the league, because we had a great time this year. We had a great outing.”