Przybilla, who reportedly made his decision Monday, must pass a physical Sunday in Portland, according to the report.
"It appears imminent," said Przybilla's agent, Bill Duffy.
Przybilla will be returning to the team he played for from 2004-11.
"Everybody here knows Joel,'' team president Larry Miller told the Oregonian on Tuesday. "You know what he brings to the table: toughness, rebounding, defense and the fans here love Joel. So he would be a great addition for our team. He brings defensive toughness and shot blocking. Things that can help us."
Over an 11-year NBA career, Przybilla has averaged 6.3 rebounds, 1.5 blocks and four points per game.
He ruptured the patella tendon in his right knee in December 2009 and had two surgeries. Pain in the knee hampered him last season and he played just five games with the Charlotte Bobcats.
Information from The Associated Press was used in this report.