According to Charania, Looney is closing an agreement with an agency.
Over 36 games this season, Looney averaged 11.6 points and 9.2 rebounds while earning All-Pac-12 second team honors.
The 6'9'', 220-pound freshman helped the Bruins post a 22-14 record and reach the Sweet 16 of the NCAA tournament.
Looney is considered a possible lottery pick.
In its latest mock draft, DraftExpress pegs Looney as the No. 20 overall pick.