The unnamed sources told the Boston Globe an announcement is expected July 21 in Las Vegas before a minicamp for national team prospects July 22-25.
"All leads point to Coach K coming back," USA Basketball chairman Jerry Colangelo told the newspaper Tuesday.
Kyzyzewski led Team USA to a gold medal in 2008 at the Beijing Olympics and has won three national titles at Duke (1991, 1992 and 2001) in 29 years coaching the Blue Devils.
The Globe added the sources said he is committed to the 2010 World Championships in Turkey.
He lead Team USA to 36-1 record from 2006-08, but is 0-2 in World Championship competition.