On Friday, Shams Charania of The Athletic reported the Knicks will likely waive Noah and use the stretch provision on his contract if he's not traded.
He returned in late November, but received limited playing time across just seven appearances before taking an indefinite leave from the organization in January for "personal reasons."
Noah didn't return to the team before the end of the season.
The Knicks hired David Fizdale as their new head coach during the offseason. The center called him "cool" during a July interview with TMZ Sports during which he suggested he wanted to stay with the team.
"I love New York!" he said.
Noah has two years left on a four-year, $72.6 million contract he signed in July 2016.
If he returned, he'd probably be buried on the Knicks' frontcourt depth chart behind Kristaps Porzingis (once healthy), Enes Kanter, Lance Thomas, Noah Vonleh, Luke Kornet and Mitchell Robinson.
Getting waived and trying to find a team where he could earn a more meaningful role is the best option for everyone involved. It'd be a surprise if New York finds a trade partner given his lucrative contract.