Liverpool reached an agreement with Feyenoord on Friday for Arne Slot to succeed Jurgen Klopp as manager, British media reported.
The Press Association said that a compensation package for the 45-year-old, who had two years left on his contract, has now been agreed.
The BBC claimed that the deal is worth up to £9.4 million (10.9 million euros).
Slot had said Thursday that he was “confident” of landing the Anfield job.
“I would like to go to Liverpool. Now I’m waiting to see whether the clubs reach an agreement. I’m very confident in that,” he told reporters.
Slot moved to Feyenoord in 2021 after impressing in his first managerial role at AZ Alkmaar.
He led the Dutch giants to the inaugural Europa Conference League final at the end of his first season, in which they narrowly lost 1-0 to Jose Mourinho’s Roma.
Slot then delivered just a second league title in 24 years to De Kuip last season before penning a new three-year deal.
Klopp will step down at the end of this season after a nine-year reign which brought the Champions League title in 2019 and Premier League trophy a year later.
“I like the way his team plays football. If he is the one, I like that he wants it,” Klopp told reporters on Friday when asked to highlight Slot’s qualities.
“I don’t know him, but some people who know him say he’s a good guy. I like that a lot. So good coach, good guy. Looking forward for the club, if he is the solution, if he is the man, I’m more than happy.
“It’s the best job in the world, best club in the world. Great job, great team, fantastic people. A really interesting job.”
Feyenoord are currently second in the Eredivisie table, with PSV Eindhoven nine points clear at the top.
Failing to win the Dutch title would be a disappointment for Slot, mirroring Klopp’s frustration at Liverpool’s own faltering title bid.
Liverpool are in third place in the Premier League, three points behind leaders Arsenal and two adrift of second-placed Manchester City.
City have a game in hand on both Arsenal and Liverpool, who look to have blown their chance after defeats against Crystal Palace and Everton.
As well as their poor recent league form, Liverpool have also endured quarter-final defeats in the FA Cup and Europa League.
Initially, Bayer Leverkusen boss and former Liverpool midfielder Xabi Alonso had been the favourite to succeed Klopp.
However, Alonso has committed to staying at Leverkusen after leading them to a first-ever Bundesliga title.
Sporting Lisbon coach Ruben Amorim was also linked with the Liverpool vacancy but has reportedly held talks with West Ham about replacing David Moyes next season.
Liverpool captain Virgil van Dijk said Slot’s attacking tactics could be the ideal match for the Premier League club.
“I think Arne Slot is perhaps one of the better Dutch coaches at this moment,” said Van Dijk.
“I think the way of playing and the philosophy he has, that he could be a Liverpool coach.”
READ: Ramharack spins web as West Indies beat Pakistan in last-ball thriller