Donovan Mitchell plans to sign a three-year, $150.3 maximum-level contract with the Cleveland Cavaliers, according to multiple reports Tuesday.

Mitchell’s deal includes a player option for the third year (2027-28), providing the All-Star guard the potential to return to free agency when he’s eligible for a five-year, $380 million extension.

Either way, Mitchell has the framework of a four-year contract — including the final year of his previous deal — worth $185 million. He confirmed he’s staying with the Cavs in a social media post early Tuesday.

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Mitchell, 27, carried the Cavaliers into the second round of the 2024 playoffs with a heroic performance in the final two games of the series with the Orlando Magic.

He averaged 26.6 points and a career-best 6.1 assists per game in 2023-24 but was limited to 55 regular-season games. Mitchell was forced out of the lineup in the second-round series against the Boston Celtics because of a groin injury. He did not play in the final two games of the series.

Entering his eighth NBA season, Mitchell played his first five seasons with the Utah Jazz. In 468 career regular-season games, he has averaged 24.8 points, 4.6 rebounds and 4.3 assists per game.