The former Lyon man is set for a return to his old club where he is believed to have accepted a non-contractual position
The 38-year-old, who has enjoyed two previous terms with the Rio-based side, is set for a third stint at Sao Januario where he will not earn a wage.
Instead of a salary, the former Lyon star will reportedly receive a number of unsettled debts from the club which were not initially paid during his earlier spells.
It is understood Juninho will re-join the Brazilian giant for six months before hanging up his boots in December.
Earlier this month he ended an ill-fated stint with MLS outfit New York Red Bulls after just seven months, where he cancelled his contract after citing "personal issues".
The midfielder, who is widely known for his ability from free kicks, has netted 111 times in 414 appearances throughout his entire career.