Andersen is expected to take a one-year, $1.7 million deal with the team with a player option the second year.
The Heat star drew interest from other teams after his performance in the team's NBA championship run. He averaged 4.9 points and 4.1 rebounds in 42 regular-season games, and then 6.4 points and 3.8 rebounds in the postseason, during which he shot a remarkable 81 percent from the field.
The Heat have a $30 million luxury tax bill this coming season, which is the likely cause for the team not to sign Andersen on for a longer contract.
Notable deaths of 2014 [PHOTOS]