Joe Vardon of The Athletic reported the news.
Clarkson, 27, has one year and $13.4 million remaining on his contract in Cleveland. He will be an unrestricted free agent next summer, which makes the timing of the agent switch make sense.
Paul already represents Tristan Thompson and JR Smith of the Cavaliers and LeBron James, who left the franchise last offseason. (Smith is expected to be waived or traded before his guarantee date of June 30.)
Clarkson averaged 16.8 points, 3.3 rebounds and 2.4 assists on 44.8 percent shooting in his first full season in Cleveland. He came over during the 2017-18 campaign in a trade from the Los Angeles Lakers. Though he ranks among the best bench scorers in the NBA, Clarkson has taken criticism for his shot selection and lack of progression as a shooter.
If Clarkson flashes some improvement from distance, he could be a sought-after reserve on the open market next season. It's also possible that the Cavs wind up shopping him this summer after taking Darius Garland and Kevin Porter Jr. in last week's NBA draft.
Clarkson, Garland, Porter and Collin Sexton each tend to have skill sets more revolved around getting themselves a shot rather than getting others involved. It's possible Clarkson winds up being the odd man out or moved for a wing player of a similar salary.
Either way, whenever he comes up for a new contract, the most noteworthy agent in the game right now will be doing the negotiation.