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It's one in, one out at the A-League powerhouse, who have lost a key midfielder to the J-League, but acquired a more than adequate replacement in the Socceroo playmaker

Tom Rogic could play for Melbourne Victory as soon as Australia Day, with details of the Socceroo midfielder's loan deal from Celtic to be finalised on Tuesday.

Victory on Monday afternoon confirmed an agreement had been struck with the Scottish giants that will see Rogic don the navy blue and white until the end of May.

A pending receipt of an International Transfer Certificate is all that's needed to seal the deal and it is hoped Rogic will be available for Victory's match against Sydney FC on Sunday.

The 21-year-old's arrival is a timely boost for Victory's A-League season, as well as their possible Asian Champions League campaign, which depends on a qualifier in Geelong on February 15.

"There has been a lot of interest in Tom's immediate future ahead of the World Cup and we are very pleased that his club, Celtic, has decided that Melbourne Victory is the best-fit for him at this stage of his career," Victory coach Kevin Muscat said.

"Tom is a talented young player and we look forward to seeing him grow even further during his time with us, both in our domestic competition as well as the Asian Champions League."

Rogic made 23 appearances with Central Coast Mariners, before moving to Celtic.

Victory also confirmed that Mitch Nichols would be released, with the midfielder set to sign for J-League outfit Cerezo Osaka, provided the 24-year-old passes a medical.

Nichols made 14 A-League appearances for Victory during the 2013-14 season after joining from Brisbane Roar in the off-season.