According to an ESPN report, the Mavericks are set to sign the free agent to a one-year deal.
"(The deal with Mavericks) can be confirmed," Yi said during a telephone interview with sina.com on Sunday.
"The deal will be signed soon I will go for a physical examination tomorrow and I think that process can be finished in two days.
"Once I pass all of the processes, you can say I joined the Mavericks."
A source quoted by ESPN said the contract is likely to be finalized within the next 48 hours.
The 6-foot-10 power forward has spent the past four seasons in the NBA but was still available in free agency thanks in part to a knee injury he suffered during a brief stint playing for the Guangdong Southern Tigers at the beginning of the CBA season.
He helped the Chinese national team clinch a spot in the 2012 London Olympics earlier last summer by winning the Asian Basketball Championships.
The 24-year-old Chinese averaged 5.6 points and 3.9 rebounds with Washington last season. His best season came in 2009-10, when he averaged 12.0 points and 7.2 rebounds with New Jersey.
Sources told ESPN.com that Yi will first play for the Mavericks' D-League affiliate, the Texas Legends, in nearby Frisco on a rehabilitation to help reacquaint the 24-year-old with full-speed basketball.
Sources said Yi also considered signing with the Golden State Warriors and San Antonio Spurs before settling on Dallas.
Playing in the D-League would reunite him with Legends coach Del Harris, who coached China to an eight-place finish at the 2004 Olympics in Athens.
In 2011 with the national team under American coach Bob Donewald, Yi averaged 16.6 points, 10.8 rebounds and 1.4 blocks and earned Asian championship MVP honors while leading China to the championship.
Unlike Wilson Chandler, J.R. Smith, Kenyon Martin and Aaron Brooks - who signed in China during the lockout and who will not be able to return to play in the NBA until the Chinese season ends in March - Yi will receive his FIBA letter of clearance from Guangdong to immediately join the Mavericks because the Chinese Basketball Association's rules forbidding in-season out-clauses for NBA players does not apply to Chinese players.