Toulouse midfielder Paulo Machado will arrive in Athens on Sunday to undergo a medical before completing his move to Olympiakos.
Olympiakos made the announcement on Friday, as all agreements over transfer fee and salary have been reached.
Machado will sign a three-year contract with the Greek giants should he pass the medical and will received an annual salary of €1.4million (£1m).
Toulouse will be paid a transfer fee of €2.4million (£1.9m).
Machado, 26, joined Toulouse in 2009 and established himself as an important player in the team.