The trade, according to ESPN, sends Howard to the Los Angeles Lakers.
The 76ers will send Andre Iguodala to the Denver Nuggets.
The 76ers will receive Lakers' Andrew Bynum and Orlando Magic's Jason Richardson.
The Magic, in return, would receive Arron Afflalo and Al Harrington from Denver and Nikola Vucevic from the 76ers.
In addition, a source told ESPN.com's Marc Stein, the Magic will be getting other pieces, including 76ers No. 1 draft pick Moe Harkless.
"Sources close to the process told Stein and ESPNLosAngeles.com's Ramona Shelburne that a trade call with the league office has been scheduled for Friday to secure the necessary NBA approval to make the deal official."
For more on this reported deal, visit ESPN.com.