Wolves have agreed a £16.9m fee with Olympiakos for winger Daniel Podence.
Podence is set to join Nuno Espirito Santos' squad before the 11pm deadline on Friday, with personal terms already agreed.
- Wolves sign Ecuador forward Campana
- Wolves close in on attacking trio
- Firmino strikes late as Liverpool go 40 unbeaten
Live Premier League
The 24-year-old has three goals and four assists in 27 matches in all competitions for Olympiakos this season and he is currently under contract at the Greek top-flight club until June 2023.
Podence posted on social media on Thursday morning: "Thank you Olympiacos, Thank you Greece!
"From the bottom of my heart, I depart with mixed emotions. The feeling of gratitude and happiness for having represented this huge European club, the biggest in Greece.
"I'll carry for all my life the impressive derbies I've played, the unparalleled support I've received, the unique life of Athens and the greatness of Olympiacos. I lack the words to express all I feel for the last year and a half I spent here, but I feel the tears I've shed speak for themselves."
The Portuguese midfielder, who can operate as both a left and right-winger, moved to Greece in 2018 and signed a new deal at Karaiskakis Stadium in October 2019.
He scored against Tottenham during Olympiakos' 2-2 draw on September 18 in their opening Group B clash in the Champions League this season.
Podence would become Wolves' second acquisition of the January transfer window if he arrives at the club, following Leonardo Campana's move from Ecuadorian side Barcelona SC.
How to follow the January transfer window with Sky Sports
Sky Sports will bring you the very latest news from the January transfer market with the return of three shows.
Start your day with Good Morning Transfers at 9am as our team of reporters bring you the latest news and insight. Transfer Talk then follows at midday delivering analysis of the biggest stories. Then join us at 7pm for the definitive round-up of the day's news with The Transfer Show.
Meanwhile, the Transfer Talk podcast will also be back at the turn of the year with more expert analysis from here and across the continent.
And as well as tuning into Sky Sports News, don't miss a thing with our dedicated Transfer Centre blog.