Bogut's stint appears likely to be a short one.
The Kings said Bogut would sign a short-term contract with the Warriors for the remainder of the current NBA season and he will be back in Sydney for the next NBL season.
"This is an exciting opportunity for both Andrew and the Kings," the Kings announced in a tweet.
"Andrew will return to Sydney, and the purple and gold faithful, ready to go for #NBL20."
With a month to go in the regular season before the play-offs start the Warriors are favourites to win their fourth title in five years.
Bogut, 34, is a beloved figure at the Warriors and the San Francisco Bay area after helping build the team into the NBA's most dominant force.
The Warriors also added All-Star big man DeMarcus Cousins to their squad for this season.
The Warriors' two-time NBA MVP Steph Curry said he was excited at the prospect of having Bogut back in Oakland.
Melbourne-born Bogut played in 30 games with the Kings, averaging 11.4 points, a league-high 11.6 rebounds, 3.4 assists and 2.7 blocks.
The Warriors, who are first in the Western Conference with a 44-20 record, did not disclose the terms of the agreement.