He now becomes the 16th head coach in Bucks history, and takes over for Joe Prunty, the interim coach forced to step in when the Bucks fired Jason Kidd.
The Milwaukee Bucks have found their man.
The report comes just hours after it was reported that Budenholzer met with Bucks star Giannis Antetokoumpo earlier in the day.
He was named the NBA Coach of the Year that season.
ESPN's Adrian Wojnarowski reported that the team has reached an agreement to hire former Atlanta Hawks head coach Mike Budenholzer. The Hawks made it to the Eastern Conference Finals during that season, where they were dispatched in four games by the Cleveland Cavaliers.
He previously worked under Gregg Popovich as an assistant coach for the San Antonio Spurs.