The Lakers and their 2007 second-round draft pick Sun Yue agreed to terms, the team announced.
Lakers spokesman John Black said Friday that the deal could be signed within the next few days.
Last season, Sun played with Aoshen, a Beijing club team, and with the Chinese national team.
On Sunday, Sun will play alongside Houston Rockets center Yao Ming for the Chinese team against the United States in the Olympic opener in Beijing.
The 6-foot-9 Sun has traditionally played point guard, but Black said the Lakers would primarily use him as a shooting guard.
"For us, he probably would play more at the two-guard simply because that's a less crowded spot for us," Black said.