Rose finished the regular season averaging 16.8 points, second only to Memphis' O.J. Mayo (18.5), led all rookies in assists (6.3) and minutes played (37.0).
In two playoff games, Rose has averaged 23.0 points and 11.0 assists.
Michael Jordan and Elton Brand are the only other Bulls to have won the award.
The Bulls are expected to officially announced the award at a 2 p.m. CST news conference Wednesday.
Twitterers were unsurprised and happy for the 6-3 Memphis grad.
sugui Hey Derrick Rose, apparently there's a package for you at the Berto Center. It's shaped like a trophy. hmm... j_dub70 Derrick Rose NBA rookie of the year! Chicago bulls lovers rejoice!!! AJthegraduate Derrick Rose will be awarded the Rookie of the Year trophy. WELL DESERVED! Press conference this afternoon in the CHI. realgt not a big surprise that Derrick Rose is #nba rookie of the year....i'm just hoping Beasley can be Most Improved player next year ;) http ... tommychoi It's official, I can buy a Derrick Rose jersey now!!! Wish I could trade in my Ben Wallace, Luol Deng, Kirk Hinrich ones. Manny_Nunez Derrick Rose is NBA rookie of the year!!!! he deserves it!