Sources said the in-demand Bazemore -- pursued by the reigning champion San Antonio Spurs and several other teams -- will sign a two-year deal worth a guaranteed $4 million from the Hawks.
After playing sparingly in his first season and a half in the league, Bazemore emerged as a sleeper free agent following a solid finish to the 2013-14 campaign with the Los Angeles Lakers.
Bazemore's representatives were also in contract discussions with the Lakers on Friday, but there was more urgency on Atlanta's end, a league source told ESPNLosAngeles.com's Dave McMenamin.
"Just a timing thing," the source said. "(The Lakers) couldn't agree tonight ... Hawks needed it done."
Bazemore's representatives informed the Lakers of the delicate timing, but L.A. was not ready to move forward and finalize a deal, so Bazemore chose Atlanta.
Traded to L.A. in the deal that sent Steve Blake to Golden State, Bazemore averaged 13.1 points over the season's final 23 games with the Lakers, shooting 45.1 percent from the floor and 37.1 percent from 3-point range.