According to the report, the deal becomes official at the start of the league year next Tuesday and once Marshall passes a physical.
NFL's com Ian Rapoport reports that the Bears will receive a fifth-round draft pick as compensation for Marshall.
Marshall missed the final three games of the 2014 season after suffering a lung injury and two broken ribs in the Bears' Dec. 4 loss to the Dallas Cowboys. Marshall caught 61 passes for 721 yards and eight touchdowns in 13 games.
Marshall was due a $7.5 million bonus if he was on Chicago’s roster on March 12. He signed a three-year, $30 million extension with the team last summer.
SI.com's Don Banks wrote last month that it appeared that Marshall had "worn out his welcome" in Chicago.
The five-time Pro Bowl receiver has 773 catches for 9,771 yards and 65 touchdowns in nine NFL seasons.
- Scooby Axson