Norwich have announced that James Vaughan is to join the club for an undisclosed fee, subject to the completion of the relevant paperwork.
It emerged earlier on Friday that Everton had accepted an offer for the striker, and the Canaries have now moved to push through a transfer.
Vaughan has agreed personal terms and passed a stringent medical, meaning he will become Norwich's first signing of the summer as soon as the Football Association, Premier League and Football League ratify the deal.
He arrives at Carrow Road on a three-year contract and manager Paul Lambert is delighted to have secured his services.
"He's someone who fits in with the group in the sense that he's hungry to do well and has great desire," Lambert told the club's official website.
"He's already shown great potential as a young player with Everton and when I have seen him playing for them and for Crystal Palace I have always thought he was a threat in and around the box.
"I think James will be fantastic for us and provide extra competition for places, which is always good to have."
The 22-year-old came through the ranks at Goodison Park and has also had loan spells at Derby, Leicester and, most recently, Crystal Palace.