CHICAGO -- Chicago Bulls guard Derrick Rose is the youngest Most Valuable Player award-winner in the history of the NBA, according to a source familiar with the situation.

The 22-year-old Rose was widely expected to win the award after leading the Bulls to a 62-20 record and No. 1 seed in the playoffs. The Bulls have scheduled a 4 p.m. CT Tuesday news conference for a "major announcement."

Rose said Monday night that the league has yet to tell him anything about the award.

"Not yet. Still hearing from it," he said. "But right now, I'm sorry to say that's the last thing I'm thinking about. I'm sorry."

Rose is expected to be notified of his victory Tuesday and be presented with the award during Wednesday's Game 2 against the Atlanta Hawks, according to the source.

Michael Jordan was the last Bulls player to win the award. He won it five times, with the latest being 1998. Earlier in the season, Jordan said Rose deserved the award.

Rose ended the two-year MVP reign of LeBron James, who spurned the Bulls and bolted from Cleveland to form a superstar triumvirate with Dwyane Wade and Chris Bosh in Miami. The 22-year-old Rose also supplanted Wes Unseld as the youngest MVP. He was 23 and was the rookie of the year and MVP with the Baltimore Bullets for the 1968-69 season.

"I think it's great. I think he's very well-deserving," teammate Joakim Noah said. "I think it's a situation where everybody knows it's his. It's not like somebody else deserves it. It's for him and I'm happy for him, but there's really no time to celebrate it right now. We're in a dogfight against Atlanta."

The Bulls lost Game 1 of their second-round series to the Hawks on Monday night, 103-95.