According to reports in the US, NIke has beaten off challenges from Reebok and adidas for James' signature - the US high school basketball star, the probable top pick in the NBA draft, agreeing in principle to a seven-year endorsement contract.
Although contract terms weren't immediately available, the deal is expected to be one of the largest in sports marketing history with some analysts estimating the agreement to be worth in the region of $75million.
The acquisition of James follows on from Nike's freshly signed contract with fellow NBA draft player Carmelo Anthony earlier this week.
Several NBA general managers have said James would be the number one pick in the draft, which will be held June 26. Because of his popularity, the league will for the first time televise the lottery to select the draft order in primetime Thursday evening.
Nike appears to have won the race to sign up college basketball starlet Lebron James - the second major NBA draft player to have been picked up by the sports goods giant this week.
