Neymar, a Brazilian striker, will be sold by Paris St. Germain to Al-Hilal of the Saudi Pro League for a sum that is estimated to be over 90 million euros (£77.6 million) plus add-ons.
The 31-year-old must finish all the documentation and pass a medical examination before being transferred.
Neymar, who joined PSG in 2017 for a record-breaking 222 million euros, was absent from the Ligue 1 season kickoff on Saturday.
The 31-year-old Brazilian was not included in coach Luis Enrique's plans for the next campaign after he was left out the squad.
Paris Saint-Germain played a goalless draw against Lorient on their opening game of the new Ligue 1 season.
Neymar was reportedly making about 25 million euros ($21.6 million) per year with the French team, but his two-year deal with the Saudis might bring him over $160 million.
Neymar has made 173 appearances for PSG, where he has helped the team win 13 trophies, including five Ligue 1 crowns and a trip to the 2020 Champions League final.
However, several ankle problems have made his tenure in the French city difficult.
Just 24 hours prior to the announcement of the Neymar signing, PSG's Kylian Mbappe returned to first-team practice after fruitful negotiations with the club.
The France striker, 24, had been in a contract dispute since he wanted to play for Real Madrid, but now that his current term is set to expire next summer, he may extend it at PSG.
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