The 28-year-old player took the PSL by storm after joining the Chilli Boys from National First Division (NFD) outfit Jomo Cosmos midway through the 2017/18 campaign.
Mntambo netted five goals in 14 appearances in all competitions for Chippa and he helped the club survive relegation.
His exploits have reportedly not go unnoticed as Pirates have moved swiftly in an attempt to sign him.
Isolezwe reports that Mntambo is joining Pirates in a deal that saw striker Gift Motupa move to Chippa on a three-year-deal last week.
“When the time is right it will happen, it seems that his dream of playing for Pirates is about to happen," a source told the publication.
Mntambo, who was born in Soweto, could soon fulfill his dream of playing for the Buccaneers, according to the informant.
“What's left is for him agree terms with Pirates. He has always wanted to play for Pirates," the source continued.
"His grandfather was a Pirates official and he grew up closer to Orlando Stadium,” the source concluded.
Mntambo, who is a technically gifted player, was included in the Bafana Bafana squad for the 2018 African Nations Championship (Chan) qualifier against Zambia last August.
Nicknamed Figo, Mntambo hit the back of the net five times from 14 NFD matches, before he joined the Chilli Boys last January.
The Buccaneers have also been linked with outgoing Kaizer Chiefs goalkeeper Brilliant Khuzwayo, Mamelodi Sundowns winger Kudakwashe Mahachi and South Africa international Andile Jali, who is currently a free agent.