McCutchen, 30, is under contract for $14 million in 2017 and has a $14.5 million club option for the 2018 campaign.
The five-time All-Star and four-time Silver Slugger Award-winner played his first eight seasons with the Pirates, batting .292 with 175 home runs, 637 RBIs and 160 stolen bases over 1,190 games.
McCutchen won the NL MVP in 2013 after hitting .317 with 21 homers, 84 RBIs and 27 steals in 157 games. In 2016, he hit a career-worst .256 with 24 homers, 79 RBIs and a personal-low six steals in 153 games.
Starling Castro would reportedly move from left field to center if the Pirates trade McCutchen.