Speaking on Newstalk, FAI chief executive John Delaney revealed that O'Neill and Keane would be unveiled on Saturday Nov. 9, when contracts are officially finalized.
"Contracts have yet to be signed but there is nothing in principle that will be an impediment to Martin O'Neill being our manager," said Delaney. "I hope that this coming Saturday we will have an unveiling."
The appointment of Keane as assistant manager has been a major talking point, considering the former Ireland captain's controversial history with the association. However, Delaney confirmed that the decision was made by Martin O'Neill.
"That was Martin's decision," said the FAI chief of the appointment. "The back room staff for a manager is his decision."
O'Neill and Keane are currently on punditry duties with ITV and will appear together tonight during the broadcast of Real Sociedad versus Manchester United in the Champions League.
The pair will be in place for the Nov. 15 friendly at the Aviva Stadium when Ireland welcomes Latvia.
O'Neill replaces Giovanni Trapattoni, whose five-and-a-half year reign in charge came to an end with defeat to Austria in September.