Sky Sports understands that Queens Park Rangers have agreed a fee with Wolves for the transfer of Karl Henry.
The 30-year-old midfielder will undergo a medical at QPR on Tuesday morning with a view to completing a deal with the Championship club.
The former Wolves skipper has been on the transfer list at Molineux following the club's relegation to League One.
Henry made more than 250 appearances for Wolves since joining the club from Stoke City in 2006 and captained the club to promotion to the Premier League in 2009.
But back-to-back relegations saw Henry fall out of favour and he has been training away from the first-team during pre-season.