Millsap met with the Magic immediately after the free agency period began Wednesday morning, according to the report, and is deciding between returning to the Hawks or signing with Orlando.
He spent the last two seasons with the Hawks, earning an All-Star selection in each season.
Millsap, 30, spent his first seven NBA seasons with the Utah Jazz, who selected him in the second round of the 2006 NBA draft.
Millsap made $9.5 million in the last season of a two-year, $19 million he signed in 2013.
He averaged 16.7 points, 7.8 rebounds and 3.1 assists in 33 minutes per game last season for Atlanta, helping lead the team to a franchise-record 60 wins and the top seed in the Eastern Conference.
The Hawks were swept by the Cleveland Cavaliers in the Eastern Conference finals.
- Scooby Axson