Tete will have a medical with Leicester on Saturday night ahead of his move from parent club Shakhtar Donetsk, 90min understands.
The Brazilian winger was offered to Premier League sides on loan with the view of a permanent deal back in December before the Foxes held talks with the representatives of the Lyon loanee regarding a move to the King Power Stadium.
Lyon are prepared to lose the 22-year-old as manager Laurent Blanc plans to move his side in a different direction. Despite that, Tete is their second highest top scorer this season after Alexandre Lacazette - who has 11 goals - with six strikes.
Premier League sides West Ham, Tottenham, Newcastle and Arsenal were all alerted to his availability. David Moyes' Hammers did explore a deal only to renege on their interest later.
Tete's arrival will add firepower to Brendan Rodgers' squad. Harvey Barnes and James Maddison are their top Premier League scorers this season with seven each, with Patson Daka, Jamie Vardy and Kelechi Iheanacho all struggling for form.
On this edition of Talking Transfers, Scott Saunders hosts Toby Cudworth & Graeme Bailey to discuss some of the latest transfer news. On today's agenda: Dusan Vlahovic, Anthony Gordon, Enzo Fernandes, Amadou Onana, Malo Gusto, Nicolo Zaniolo, Pedro Porro, Weston McKennie, Milan Skriniar, Maximo Perrone & more! If you can't see this embed, click here to listen to the podcast!
Tete is a naturally right-sided player and has Champions League experience with Shakhtar, scoring three times in the UEFA competition.
Leicester were quiet during the summer transfer window, bringing in only Alex Smithies and Wout Faes, but have signed Victor Kristiansen this month to add competition at left back.
Source : 90min