An official announcement is expected to come Thursday.
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Butterfield would be the second major North Carolina Democrat to retire following Rep. David Price.
Butterfield has long represented a majority-minority district that was redrawn by North Carolina Republicans in the latest redistricting, putting his seat in jeopardy. Butterfield has long enjoyed overwhelming re-election victories in his heavily left-leaning district.
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The decision appears to be an about-face for Butterfield, who told ABC11 earlier this month that he would seek re-election and would fight to stay in power.
"I do plan to run again. I'm going to give it everything that I have," he told ABC11's Joel Brown. Butterfield was first elected in 2004.
This is a developing story and will be updated.
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