The newspaper, citing senior advisers to the Texas senator who spoke on condition of anonymity, reported that Cruz would launch a presidential bid outright rather than the traditional path of forming an exploratory committee.
He would become the first Republican presidential candidate to announce a run for the 2016 election.
Cruz, a leading conservative who was elected to the US Senate in 2012, is slated to make a speech on Monday at Liberty University in Virginia. "You're going to want to be there," a member of Cruz' staff told the Daily Beast web site but declined to reveal the specific nature of the address.