According to ESPN.com's Chris Haynes, the two sides are "collaborating to find a suitable trade."
Okafor, 21, has appeared in one of the Sixers' first five games this season.
On Friday, Sixers head coach Brett Brown told reporters Okafor was out of the rotation and that Amir Johnson would continue to pick up minutes as the backup center.
"I'm playing Amir [Johnson] ahead of him, and that's just the situation," Brown said, according to the Philadelphia Inquirer's Sarah Todd. "[Okafor] comes in and his head is good, his spirit is good, and he and I talk all the time. But that is the bottom line: He is not in the rotation."
Okafor has robust career averages of 14.7 points, 6.0 rebounds and 1.1 blocks on 51.1 percent shooting, but his minutes have dipped every year since his debut campaign due to concerns over his defense and isolation-heavy skill set.
To wit: Last season, the Sixers allowed 109.5 points per 100 possessions with Okafor on the floor. When he sat, that mark improved to 105.1.
Offensively, Okafor isolated on 20.3 percent of his possessions—which was the eighth-highest rate among all players and highest among big men.
As far as Okafor's future with the Sixers is concerned, Haynes reported the team is "likely" to exercise his $6.3 million player option for next season, but he cautioned that it "depends on the trade discussions."
Stats courtesy of NBA.com.