The five-time All-Star will join Philadelphia after splitting time with the Giants and Yankees last year.
Outfielder Andrew McCutchen has reportedly agreed to a three-year, $50 million contract with a Phillies, according to The Athletic's Matt Gelb. The deal also reportedly includes a club option.
McCutchen, a five-time All-Star, began last season with the Giants before being traded to the Yankees in the final hours of the waiver-trade deadline in August.
McCutchen, the 2013 National League MVP, is entering his 11th season in the Major Leagues. The 32-year-old batted .255 last season with 20 home runs, 65 RBIs and 14 stolen bases.
Per The Athletic's Ken Rosenthal, McCutchen's signing would not preclude the Phillies from acquiring another outfielder. NBC Sports' Jim Salisbury reports that Philadelphia could also still pursue All-Star shortstop Manny Machado and starting pitcher J.A. Happ.
McCutchen's deal has reportedly increased the possibility of Philadelphia offloading a younger outfielder from its roster, potentially including Odubel Herrera and Nick Williams. Rosenthal reports that Phillies top pitching prospect Sixto Sanchez has been involved in trade discussions.