Sources say the meeting was arranged by Paul and is scheduled for 6 p.m. EST.
Paul had conversations with officials from the Cavaliers, Dallas Mavericks, Houston Rockets, Phoenix Suns and Los Angeles Lakers last week. Those face-to-face meetings took place in Cleveland, where Paul is based.
James is in Las Vegas for the opening of the annual Nike LeBron James Skills Academy, which began Wednesday.
Love, a three-time All-Star, has one year remaining on his current contract and has reportedly told Minnesota he doesn't plan to re-sign there.