League sources told ESPN and The Athletic on Sunday that the Lakers will send the player they select with the No. 28 overall pick in this year's NBA Draft and veteran guard Danny Green to the Thunder in exchange for Schroder.
The trade can be formally agreed to Monday and finalized after the draft Wednesday night.
The Lakers can't outright send their first-round pick to the Thunder due to an NBA rule that prevents teams from trading first-round selections in consecutive years. Los Angeles gave the New Orleans Pelicans its No. 4 overall pick in the 2019 draft as part of the Anthony Davis deal.
Schroder, who finished as the runner-up for the Sixth Man of the Year Award this past season, has one year and $15.5 million remaining on his contract, according to Spotrac.
The Thunder acquired Schroder in a 2018 trade with the Atlanta Hawks in exchange for Carmelo Anthony and a lottery-protected 2022 first-rounder. The Hawks drafted Schroder in the first round of the 2013 draft.
Schroder averaged 18.9 points, four assists and 3.6 rebounds per game in the 2019-20 season. In 496 career games, he has averaged 14.1 points and 4.6 assists.