The MLB and the MLB Players Association reportedly reached a deal Thursday on a new collective bargaining agreement, ending the monthslong lockout.

ESPN's Jeff Passan just broke the news -- saying both sides still need to ratify the agreement ... though the baseball insider said that's expected to happen shortly.

The two sides had quarreled over a new deal since December -- and commissioner Rob Manfred actually had to cancel the first two series of the season as they tried to hammer out an agreement.

Spring training camps are now expected to begin as early as Friday, according to Passan, and free-agent signings and trades will be unfrozen as soon as the deal is made official.

Passan added Opening Day is now tentatively slated for April 7. A full, 162-game schedule is expected to follow.