Lon Babby, the agent for Turkoglu, told the Orlando Sentinel on Monday that his client will opt out of his contract and become a free agent in two weeks.
"It would make sense for him to opt out," Babby told the newspaper by phone. "I can't imagine a scenario in which he would not."
June 30 is the first day players can declare for free agency. In Turkoglu's case, it wouldn't matter if the Magic choose to re-sign the 6-foot-10 forward.
Turkoglu will be entering the final year of a $36 million, six-year contract. He is scheduled to make $7.3 million next season under terms of that deal.
Babby told the Sentinel he intends to discuss the situation in the coming days with general manager Otis Smith. The Magic are just beginning to put their NBA Finals loss to the Lakers -- Los Angeles finished the series Sunday night in five games with a 99-86 victory -- behind them.
"I think Hedo distinguished himself in this playoff run," the agent said. "He's in a different spot than he was before the playoffs began. He's a rare player, a unique player who helped take a team to the Finals. He's grateful for the opportunity he has been given. He's enjoyed his time in Orlando. It's a solid organization, a team on the rise.
"Hedo will weigh his options."