The Paraguay international is set to leave the Portuguese giants before the end of July according to the striker's representative, with Cardiff City heavily linked with interest
The representative, Pedro Aldave, revealed on Friday that there was "real interest" from one or more Premier League clubs following a 33-goal return last season.
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"His transfer will certainly be finalised before July 17," Aldave told O Jogo. "He will not return to Benfica for pre-season.
"We are very advanced but I prefer not to go into more details."
Cardozo has scored 161 goals in 260 games for the Portuguese Liga outfit since joining from Newell's Old Boys in 2007.