ESPN and The Athletic reported Durant will forgo the final season of a four-year contract he signed with Golden State after the 2015-16 season. He averaged 26 points, 6.4 rebounds and 5.9 assists in 78 games this season.
The two-time NBA champion averaged 32.3 points in 12 playoff games. Durant expected to miss most, if not all, of the 2019-20 season after tearing his Achilles in Game 5 of the 2019 NBA Finals.
Durant, 30, is eligible to sign a five-year, $221 million max contract with the Warriors. He can also sign a four-year, $164 million max deal with another team.
Durant spent his first nine seasons with the Seattle Supersonics/Oklahoma City Thunder. He is a 10-time All-Star and was named NBA MVP in 2014.
NBA free agency begins Sunday at 6 p.m. EDT. Players cannot officially sign their new contracts until July 6.