The footwear and apparel endorsement deal is expected to be finalized this weekend.
"It's all but official," a source said.
Doncic's contract with Jordan is expected to be a five-year deal, sources said. It will not begin as a signature deal, according to sources, but Doncic can earn a signature deal through bonus clauses such as winning MVP or Finals MVP.
Sources said that Doncic will likely have player-exclusive models -- special edition colorways on which he has design input -- available to him by February for the remainder of the season.
Doncic, who has emerged as an MVP candidate as a 20-year-old, has been a sneaker free agent since his two-year Nike deal that he signed in 2017 while playing with Real Madrid expired Sept. 30. Nike, the parent company of Jordan Brand, had a 180-day window beginning Oct. 1 to match other offers. Sources said other brands were hopeful that he would wait out that window before agreeing to a new deal, and sign outright with a new company were he to leave Nike.
Puma and Under Armour had major interest in Doncic, sources said. He wore Stephen Curry's signature Under Armour Curry 7 twice in games and practiced and warmed up in the Puma Clyde Hardwood, but Doncic has primarily played in Nike or Jordans.
Sources said Under Armour never made an official offer, and Puma shied away from being aggressive with their offer because of Nike's match clause.
Doncic, who will be sidelined by a sprained right ankle until after Christmas, has been exclusively wearing Jordans of late. He has played in the Jordan Diamond Lows and warmed up in Air Jordan 34s. He also frequently wears vintage Jordans off the court.
Doncic will be the second major NBA signing for Jordan Brand this year. No. 1 overall pick Zion Williamson signed a five-year, $75 million deal this summer -- the richest annual shoe deal ever for a rookie.
The brand is in the middle of a youthful reset, as the Hall of Fame careers of former headliners Chris Paul and Carmelo Anthony enter their final chapters. Boston Celtics forward Jayson Tatum and Washington Wizards rookie Rui Hachimura were also signed this summer. All three, along with Doncic, are expected to be featured in the brand's ongoing UNITE campaign that celebrates the global growth and diversity of the sport.
The Athletic first reported that Doncic was close to signing a deal with Jordan Brand.