Rodman is scheduled to spend four days in the country training the team for a Jan. 8 exhibition in Pyongyang, CNN reported Thursday.
The exhibition will celebrate the birthday of North Korean leader Kim Jong Un, whom Rodman has called a friend.
Rodman was accompanied on the trip, his third to North Korea, by a documentary film crew.
The United Kingdom-based online betting company Paddy Power sponsored the trip. The company said the team of former NBA players who would play against the North Korean team would be announced later this month.
Rory Scott, a Paddy Power spokesman, said earlier this month Rodman's trip intended to show "once again that sport has the power to rise above all issues."
'How to Train Your Dragon 2' releases 5-minute clip
Turkey considering to use pistachios to heat country’s first eco-city