The New York Daily News and ESPN were both reporting the deal Tuesday, citing sources. The contract will also reportedly include a pay raise for Collins, 66, but it wasn’t clear how much.
The Mets are expected to announce the deal Wednesday.
The team had a club option for Collins for 2016.
Collins, who previously managed the Astros and Angels, was hired to be the Mets’ manager in November of 2010. He endured losing campaigns in each of his first four seasons in Queens before winning the National League East in 2015 with a 92-70 record. The Mets went on to win the National League pennant before falling to the Royals in five games in the World Series.
According to CBSSports.com/WFAN baseball insider Jon Heyman, Collins told friends that he’d be pleased with a two-year deal and wasn’t expected to seek a long-term deal.