Saudi Arabian club Al Hilal has agreed a deal with Paris Saint-Germain to sign Neymar.
The fee is understood to be about £77.6m plus add-ons, BBC said.
It was gathered that the 31-year-old, who is set to sign a two-year deal, is undergoing his medical and is expected to complete his move in the next 48 hours.
The Brazil international, who joined PSG for a world record fee of 222m euros in 2017, missed the Ligue 1 opener on Saturday.
Neymar was understood to be earning in the region of £21.6m annually at the French side.
He has made 173 appearances for PSG, helping the club win 13 trophies, including five Ligue 1 titles, as well as reaching the 2020 Champions League final.
However, his time in the French capital has also been hampered by a number of ankle injuries.
The former Barcelona player had surgery in March that caused him to miss the rest of the season and he only resumed training in July.
He missed two of Brazil’s matches at the 2022 World Cup after being injured in their opening group match.
Neymar also missed the 2019 Copa America after suffering torn ligaments in his right ankle and was out for several weeks in 2021 with a similar injury.
This news comes just 24 hours after PSG’s Kylian Mbappe was reintegrated back into first-team training after positive talks with the club.