Kawhi Leonard might be in Toronto for longer than one season this time.

The Raptors and Leonard are nearing agreement on a contract extension, NBA insider Jake Fischer reported on Thursday.

Leonard is eligible to sign a two-year deal for a maximum of $126.1 million that would take him through the 2028-29 season.

He is under contract this season for $50.3 million, the last of a three-year deal signed with the Los Angeles Clippers.

The 35-year-old wing is coming off a season where he averaged a career-high 27.9 points and posted a 62.9 per cent true shooting mark for the Clippers to finish seventh in MVP voting.

Leonard arrived back in Toronto after a long-agreed-upon trade with the Clippers was made official on Monday. The Raptors sent Brandon Ingram, Gradey Dick, two unprotected first-round picks, one first-round pick swap and two second-round picks back to the Clippers in the deal.