The deal was first reported by Yahoo Sports.
Memphis is seen to be the final destination for Barnes -- at least for now. Before spending the last three seasons with the Clippers, the forward spent two years with the Lakers.
The Grizzlies are expected to pick up the $1.2-million option for the final year of Barnes' contract this season, according to Yahoo.
Charlotte acquired Luke Ridnour from Memphis in exchange for Barnes, then was traded with a conditional 2016 second-round pick to Oklahoma City for Jeremy Lamb. Yahoo Sports was also first to report this deal.
The Clippers traded Barnes to Charlotte on June 15 for shooting guard Lance Stephenson.