Sources said terms of the deal are three years and $24 million. It can't be finalized until the end of the free-agent moratorium on July 7.
Livingston, 31, is a vital component to the Warriors' championship core, and management made it a priority to bring him back. He averaged 5.1 points and 3.1 assists last season.
The slender 6-foot-7 Livingston was the No. 4 pick in the 2004 draft. But his career was sidetracked in 2007, when he came down awkwardly after a missed layup attempt and suffered what his doctor called "probably the most serious injury you can have to the knee."
After missing the entire 2007-08 season and seeing limited action in the two seasons that followed, Livingston eventually made his way back to being a regular in the league. When he signed with Golden State in 2014, it marked the ninth team in 12 NBA seasons for Livingston, who will turn 32 in September.
Kevin Durant will sign after a potential Iguodala signing.