Roberto Mancini has agreed to a deal with the Italian football federation (FIGC) to take over as national coach and will sign his contract on Tuesday, according to reports in Italy.
The 53-year-old former Manchester City manager quit as Zenit Saint Petersburg coach on Sunday, saying he now felt free to open talks with Italy.
Sky Sports Italia reported on Monday that Mancini has now agreed a two-year deal and will sign a contract in Rome on Tuesday.
Italy have been without a permanent coach since Gian Piero Ventura was sacked after they failed to qualify for the World Cup for the first time in 60 years after losing to Sweden in November.
Mancini, former Man City and Inter Milan coach, signed for three years with Zenit last summer and led the club to a fifth-place finish in the Russian league.
Italian Federation (FIGC) commissioner Roberto Fabbricini said last week that Mancini had agreed in principle to become the next manager of the four-time world champions, who failed to qualify for the World Cup after defeat to Sweden in a two-leg playoff.
Mancini led City to their first English league title in 44 years in 2012, and won three Serie A titles with Inter Milan. He also won Italian Cups with Inter, Fiorentina and Lazio.
The Italian team will meet on May 22 to prepare three international friendlies against Saudi Arabia on May 28, France on June 1 and Holland on June 4.