Dixon will replace Trent Johnson, who was fired just eight days ago after four seasons with TCU.
Dixon played four seasons at TCU before graduating after the 1987 season with a 1986 Southwest Conference championship in hand. He went on to take over the Panthers program in 2003. Over the next 13 years, Dixon guided Pitt to three Sweet Sixteen appearances and one trip to the Elite Eight.
The agreement has not been made official. However, Pittsburgh has called for a press conference at 4:30 p.m. CST. Stay tuned for updates.