Kidd is currently negotiating contract details, with an official announcement on a three-year deal expected to come later in the week. Kidd met with Nets general manager Billy King on Monday to make a pitch for the job.
Kidd has ties to the franchise, as he played seven of his 19 seasons with the New Jersey Nets. Kidd helped lead the Nets to the 2002 NBA Finals, where they were swept by the Los Angeles Lakers.
The 40-year-old Kidd retired from the NBA just last month after one season with the New York Knicks.
Indiana Pacers associate head coach Brian Shaw was initially thought to be the frontrunner for the Nets job and is still interviewing with the team on Wednesday, but it's looking like he will have to search elsewhere for his first head coaching gig.