A source, speaking on condition of anonymity because the agreement had not been announced, confirmed that the 32-year-old midfielder has agreed on a new contract.
The MLS club has scheduled a “major announcement” for Thursday.
The new deal involved targeted allocation money, meaning Bradley will give up his designated player status and take a paycut from the $8.5 million he earned this season. That opens the way to the club fulfilling its off-season goal to add to its offence.
Bradley’s $39-million, six-year contract expires at the end of the year.
The TFC skipper elected not to talk about his contract status this year, saying he did not want it to become a distraction.