Wallace, 37, will be sentenced Dec. 13 in Oakland Circuit Court on one count of operating a vehicle while intoxicated and one count of possessing a firearm while operating a vehicle while intoxicated, The Detroit News reported.
Each charge has a maximum sentence of 93 days in jail.
During court proceedings Tuesday, it was learned Wallace's blood alcohol level was 0.14 when he was stopped, nearly double the 0.08 considered intoxicated under Michigan law.
As part of the plea deal, a charge of carrying a concealed weapon was dropped. Police found an empty gun in a backpack in Wallace's vehicle. The weapon was registered to his wife, police said.
Wallace, listed as both a forward and center for the Pistons, was stopped for not staying in his lane, police said.