Reporter Eddie Sefko confirms through multiple league sources that the Mavericks guard will be given the honor at a news conference on Friday.
Terry, always the team player, told the Morning News that the honor is really a team award.
Terry was also named recipient of the NBA Community Assist Award in recognition of his outstanding efforts in the community earlier in the year.
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The Mavericks guard received the community assist award after his 2nd Annual Jason Terry Coat Drive. Terry teamed up with Dave & Buster's to ask fans to donate coats to be given to local homeless shelters over the winter. Terry then signed autographs for participants to thank them for their generosity.
Fans donated more than 350 winter coats to be given to local children and families in need. Following the coat drive, Terry donated $5,000 for additional coat purchases and personally delivered the items collected to the shelter.
For the regular season, Terry played in 74 games, coming off the bench in 63 of those games. He averaged 19.6 points per game in 2008, more than three points over his career average. The Mavericks guard also averaged three assists and two rebounds per game.