Shams Charania of The Athletic and Stadium reported the news.
The Lakers signed Caldwell-Pope to a two-year, $16.6 million contract in July 2019; he previously played on one-year deals during his first two seasons with the team.
Last season was the most efficient year of his NBA career. Although he had his lowest scoring average (9.3 PPG) since he was a rookie in 2013-14, he shot a career-high 46.7 percent overall and 38.5 percent from three.
Los Angeles' offense was primarily a two-man show with LeBron James and Anthony Davis, as Kyle Kuzma was the only other player to average at least 10 points per game with more than 10 games played. Caldwell-Pope ranked fourth on the team in scoring.
Per Basketball Reference, the Georgia product's 1.9 defensive win shares ranked second among guards on the Lakers, and his shooting ability and defensive skill set make him capable of playing in nearly any system.