The Yanks and the free-agent infielder are working to complete the deal as early as Friday, per Jon Morosi of the MLB Network.
ESPN's Jeff Passan reported the deal would be for six years and worth $90 million.
The 32-year-old was excellent for the Yankees in 2020, hitting a career-high .364 with 10 homers, 27 RBI, 41 runs and a career-best 1.011 OPS. He also offered the team a lot of versatility, playing at second base, first base, third base and one game as the designated hitter.
For a Yankees team that has dealt with more than its fair share of injuries the past two years, LeMahieu has been a lifesaver. He was also excellent in 2019, with career bests in homers (26) and RBI (102).
The question for New York was whether the veteran might have priced himself out of the Yankees' range, given the money they owe elsewhere and the presence of other players at first (Luke Voit) and third base (Gio Urshela) all worthy of starting. Granted, losing LeMahieu at second base would have hurt big time.
It's a moot point now, though. LeMahieu will return to New York, likely armed with a deal worthy of his production the past two years. He's found a home with these Yankees.