Chandler cited spending additional time with his family as the main reason for sitting out. League sources told ESPN and the New York Times that Brooklyn will sign forward Justin Anderson to take Chandler's roster spot.
Anderson had a 10-day contract with the Nets in January and appeared in three games.
"As difficult as it will be to not be with my teammates, the health and well-being of my family has to come first," Chandler told ESPN on Sunday. "Thank you to the Nets organization for understanding and supporting me in this decision, and I will be watching and rooting for our team in Orlando."
Chandler -- who is on a one-year deal with the Nets -- played in 35 games (three starts) this season before the NBA halted play in mid-March because of the coronavirus pandemic. He was suspended for the first 25 games of the 2019-20 campaign after testing positive for a banned substance in August.
He averaged 5.9 points and 4.1 rebounds in 21 minutes per game. Nets forwards Taurean Prince and Rodions Kurucs are expected to absorb some of Chandler's playing time.
Los Angeles Lakers guard Avery Bradley, Portland Trail Blazers forward Trevor Ariza, Washington Wizards forward Davis Bertans and Dallas Mavericks big man Willie Cauley-Stein also have opted out of the NBA's restart.
Teams are scheduled to begin arriving in Orlando on July 7. The Nets are set to resume their season against the Orlando Magic on July 31.