Germany international, Mario Gotze will return to the Bundesliga at Eintracht Frankfurt, according to Sky in Germany.
The 30-year-old 2014 World Cup hero still had his PSV contract running for another two years but his €4.8m (£4.1m) release clause was activated by the Europa League champions.
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PSV have resumed the first day of pre-season training under new boss Ruud van Nistelrooy, without Gotze and the club confirmed he had been “given permission to complete a move to another club”.
The attacking midfielder will sign a three-year deal, or a two-year deal with an option for a third.
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Götze sealed a move to PSV in 2020 and has recorded 18 goals from 77 appearances in his two seasons at the The Philips Stadion.
The former German international had a large role in PSV’s third place league finish as well as their KNVB CUP final victory over Ajax, playing 29 out of a possible 34 matches in the Eredivisie last season.
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Benfica, now managed by Gotze’s former PSV boss Roger Schmidt, AC Milan and Inter Miami also showed an interest previously in the German.