George accepted the deal at a meeting with members of Philadelphia's front office, per the report. Team owner Josh Harris, general manager Elton Brand, president of basketball operations Daryl Morey and Sixers Hall of Famer Julius Erving reportedly were among those on hand when the sides got together in Los Angeles.
The 76ers' contingent, per ESPN, also featured team executive Peter Dinwiddie, who used to work for the Pacers and became close with George during his time in Indiana.
ESPN reported that George's new deal includes a player option for the 2027-28 campaign, the final season of the contract.
George spent the past five seasons with the Los Angeles Clippers, who released a statement on Sunday that revealed his plans to sign elsewhere.
"Paul has informed us that he is signing his next contract with another team," the statement read. "Paul is a tremendous talent and an elite two-way player. We feel fortunate for the five years we spent with him...
"We negotiated for months with Paul and his representative on a contract that would make sense for both sides, and we were left far apart. The gap was significant. We understand and respect Paul's decision to look elsewhere for his next contract."
Shortly after that, a report from ESPN indicated that the Sixers were the front-runners to bring George into the fold.
Philadelphia apparently succeeded in that quest, establishing a formidable trio that also includes 2023 MVP Joel Embiid and All-Star guard Tyrese Maxey. The 76ers went 47-35 last season and locked down the number seven seed in the Eastern Conference with a play-in victory before they were knocked out by the New York Knicks in the first round of the play-offs.
George played at least 60 games for Los Angeles for the first time in 2023-24, appearing in 74 contests, all starts. He averaged 22.6 points, 5.2 rebounds, 3.5 assists and 1.5 steals while shooting 47.1 percent from the field and 41.3% from three-point range.
In 14 NBA seasons with the Pacers (2010-17), the Oklahoma City Thunder (2017-19) and the Clippers, George has career averages of 20.8 points, 6.3 boards, 3.7 assists and 1.7 steals across 867 games (819 starts).
George declined his player option with Los Angeles to enter free agency on Saturday.