The Toffees have revealed that an undisclosed fee has been agreed with the Premier League champions and the 21-year-old is set to have a medical on Sunday prior to a move.
Rodwell came through the ranks at Everton and has made over 100 appearances since making his breakthrough under David Moyes.
|CITY GAMBLE ON RODWELL
|The Everton midfielder has been tipped to become a regular England international player of the future but Roberto Mancini must help him to fulfil his undoubted promise
"I can say we consider Jack a good player, a young player, he will be an important midfielder for England in the future and for us," City manager Roberto Mancini told reporters before Sunday's Community Shield.
"He's a player with a good attitude. He will be an important player for the future."
Rodwell had been widely expected to make Stuart Pearce's Team GB squad this summer but was forced to withdraw after suffering yet another injury blow prior to the tournament.
The Southport-born midfielder was handed his first England cap by Fabio Capello in November 2011, making a substitute appearance during a 1-0 friendly victory over Spain.
The former Under-21 international is set to become Roberto Mancini's first purchase of the summer transfer window should the move be confirmed.