Murray and the Bobcats have a one-year deal at the NBA's bi-annual exception of $1.99 million, with a formal signing forthcoming as early as Friday, according to NBA front-office sources.
Murray's agent, Mark Termini, confirmed when reached Thursday by ESPN.com that his client is Charlotte-bound.
After averaging 12.2 points last season as an off-the-bench spark for the Atlanta Hawks, Murray also received interest earlier this month from the Denver Nuggets. But luxury-tax concerns prompted the Nuggets, who on Wednesday traded for Houston's James White, to limit their offer to the $1.1 million veteran minimum.
Murray has been regarded as one of the NBA's better sixth men after breaking out in the 2003-04 season as a fill-in for the injured Ray Allen in Seattle, averaging 23.9 points over an 11-game stretch.
The signing of Murray further cements Charlotte's backcourt after Wednesday's signing of restricted free agent Raymond Felton to a one-year, $5.5 million qualifying offer and potentially gives the Bobcats' second unit some needed punch after they finished last in the league in scoring last season.
Felton will become an unrestricted free agent in July after he and the Bobcats could not strike a long-term deal. He averaged 14.2 points and 6.7 assists last season, retaining his spot in the starting lineup even after Charlotte drafted D.J. Augustin.
Marc Stein is a senior NBA writer for ESPN.com.