Several media sources reported Patrick's plans, which according to Fox Sports will be made official at a press conference next Wednesday at 1 p.m. (et) in Phoenix.
ESPN and FoxSports both reported she will also enter select Sprint Cup Series races next year with cars prepared by Stewart-Haas Racing. Patrick will reportedly move to Sprint Cup racing full-time in 2013.
The 29-year-old Patrick has competed in both the IndyCar and Nationwide Series this year. She has 13 starts in IndyCar and has one top five-finish and seven top-10 results. She has also had six starts in the Nationwide Series and has one top-5 finish.
Patrick's best finish during her 2010 Nationwide rookie season came in November at Homestead, where she finished 19th. Her best result this year is a fourth-place showing in the Sam's Town 300 in Las Vegas in March.
With her triumph in the 2008 Indy Japan 300, Patrick became the first woman to win an IndyCar race. She was also third in the 2009 Indianapolis 500. She started racing in the Nationwide Series last year.