The £2.75 million fee that the Terriers received for Marcus Stewart in 2000 is set to be topped if the 22-year-old can agree personal terms with the recently relegated club
Rhodes will now discuss personal terms with the Lancashire club, who are ready to pay a sum that exceeds the £2.75 million Ipswich Town spent to sign striker Marcus Stewart in 2000.
The 22-year-old will speak at a press conference arranged for 1300BST on Thursday, along with Huddersfield manager Simon Grayson.
Rhodes has scored two goals in two games so far this season having struck 40 times in all competitions during the 2011-12 campaign to help the West Yorkshire club to promotion to the Championship.
The former Ipswich player made his debut for the Scotland national team in November last year, and has scored one goal in his two appearances so far.
Previous Huddersfield manager Lee Clark signed Rhodes in 2009 after he had spent time on loan at three Football League clubs.