Filip Kostic will undergo a medical in Eindhoven on Wednesday, Mounir Boualin and Rik Elfrink report. The Serbian is joining on a free transfer.
PSV have been working on a deal for the left-footer for some time. He has been a free agent since last month after leaving Juventus.
For a long spell, the Eindhoven club went head to head with AEK Athens for the signature of the former FC Groningen player, among others, and have now won that battle.
In Eindhoven, Kostic is set to bolster the left-back position. He replaces Anass Salah-Eddine, who wanted to take his chance at AS Roma, the club from whom he was on loan.
Earlier on Tuesday, Voetbalzone, Boualin and Elfrink also reported that Kodai Sano will undergo a medical on Wednesday.
The Japanese player has said goodbye to his team-mates at NEC in Athens and is flying to Eindhoven on Tuesday evening to complete his transfer.
Earlier in this transfer window, PSV signed Sven Mijnans. The midfielder arrived from AZ for thirteen million euros.