Barea was waived by the Wolves before Monday's 5 p.m. deadline for teams to cut rosters down to 15 players.
Sources say that the Dallas Mavericks, meanwhile, are planning to re-sign Barea once he clears waivers. Barea is expected to clear because his salary-cap number for the coming season is $4.5 million.
The Mavericks would have to create a roster spot to make room for Barea but can do so by trading or releasing guard Gal Mekel or big man Greg Smith.
Barea would be the second member of the Mavs' 2011 championship team to return to the franchise in recent months after Dallas reacquired center Tyson Chandler in June in a trade with the New York Knicks.