Bournemouth have agreed a fee, reported to be about £10m, for the signing of Wolves striker Benik Afobe.
The 22-year-old has scored 23 goals in 48 games for the Championship side since signing from Arsenal in 2015.
Bournemouth boss Eddie Howe warned there were still "hurdles" to clear, but added Afobe would "bring strength, power and hopefully goals".
Afobe would be Howe's second signing of the transfer window after Roma forward Juan Iturbe arrived on loan.
Bournemouth lost attackers Callum Wilson and Max Gradel to long-term injuries early this season.
|A year to remember|
|Only five players scored more league goals in English football in 2015 than Afobe (22) - Watford's Odion Ighalo (30), Tottenham's Harry Kane (27), Fulham's Ross McCormack (25), Cambridge's Barry Corr (23) and Burnley's Andre Gray (23) are the men who managed more.|
They are two places and four points clear of the relegation zone in the Premier League and survival would earn them a share of a record £5.1bn domestic television deal that begins next season for England's top flight.
Wolves turned down offers from Norwich for Afobe in the summer, but claim the player's desire to move on and owner Steve Morgan's decision to put the club up for sale in September mean they have changed their stance.
"Benik has regularly re-stated his desire to leave Wolves and to test himself in the top flight at the earliest opportunity," read a club statement.
"Faced with this difficult situation, and with circumstances now changed for Wolves, Wolves were left with little other option than to reluctantly accept the substantial bid."
Afobe, who began his career with Arsenal and has made two appearances for England Under-21s, will now discuss personal terms with Bournemouth.
Find all the latest football transfers on our dedicated page.