James opted out of the final two years and $42 million of his contract with the Heat on Tuesday. Wade and Bosh have until midnight on Monday to decide if they will follow suit.
The meeting included a meal at a South Beach eatery, the Miami Herald reported.
In 2006, James, Wade and Bosh consulted each other before signing matching three-year contract extensions that made them all free agents in 2010. That year, they all signed deals that gave them matching opt-out clauses for this week.
James also is expected to stay in touch with friend Carmelo Anthony, who opted out of his contract with the New York Knicks on Monday to explore free agency.