Davis formally requested a trade from New Orleans in January after informing the organization he wouldn't sign a contract extension. He's locked into his current deal for just over $27 million through the 2019-20 season with a player option for the following year.
New Orleans was unable to move the All-Star forward ahead of February's deadline, even though the Los Angeles Lakers offered multiple packages in a strong push to acquire him.
The 26-year-old averaged 25.9 points on 51.7 percent shooting, along with 12 rebounds, 3.9 assists, 1.6 steals, and 2.4 blocks in his seventh season with New Orleans, but didn't eclipse 23 minutes of playing time in any of his 11 appearances during the second half of the 2018-19 campaign.
The Pelicans entered Tuesday's lottery with a six percent chance of picking first overall and a 19 percent chance of selecting in the top three. This will be the second top pick in franchise history after the team selected Davis first overall in 2012.
New Orleans is expected to select Duke prospect Zion Williamson, the consensus National College Player of the Year and a first-team All-American during his freshman season.