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.
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.
Benfica, now managed by Gotze’s former PSV boss Roger Schmidt, AC Milan and Inter Miami also showed an interest previously in the German.