Manager Steve Bruce says Hull have agreed a fee for Lokomotiv Moscow forward Dame N'Doye and are in talks with Tottenham winger Aaron Lennon.
Bruce said there is "still work to be done" before a deal is completed for N'Doye, 29, who has scored 27 goals in 66 Lokomotiv appearances.
Lennon, 27, has started only three games for Spurs since Mauricio Pochettino was appointed in May 2014.
"If we can pull this off, it will be great for the squad," Bruce said.
N'Doye played at the Africa Cup of Nations for Senegal, who have been knocked out of the competition.
"Undoubtedly Senegal going out has helped the situation, but it is never easy and it's fair to say there is still a lot of work to be done," Bruce told BBC Radio 5 live.
Asked about Lennon, he added: "We have had conversations with Spurs over the last 24 hours and it now rests on the boy Aaron himself."
However, Bruce is fearful the club's current position could hinder his hopes of signing the two players.
He added: "Both the deals are up to the players themselves, and, with the position we are in at the moment in the bottom three, we are not really endearing ourselves to the two players.