Others to be enshrined include Karl Malone and Bob Hurley Sr., according to the report. An official announcement is expected Monday.
Pippen, the second-leading scorer in Bulls history, made seven All-Star appearances and was named to eight All-Defensive teams. He also ranks second in franchise history in steals and assists.
Pippen spent 12 of his 16 years in the NBA in Chicago, where he won six NBA championships.