Scott Parker is set to leave his role as Fulham head coach within the next 48 hours, after which he will be appointed as Bournemouth's new boss.
Parker remains in negotiations with Fulham over the mutual termination of his contract, but those talks are expected to be finalised over the next few days.
The former England international will then take up the role as head coach at Bournemouth, who have confirmed current boss Jonathan Woodgate's contract - which expires on Wednesday - will not be renewed.
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Woodgate, who led Bournemouth to the play-off semi-finals only to be beaten by Brentford, said: "It was a real experience for me personally and I can't thank the staff, who were absolutely incredible, and the people of the town enough for the support they gave me.
"I'd also like to thank the players for all their hard work. They were a great group to work with and it was gutting how the season ended for us all. They deserved better than how it ended at Brentford."
Parker still has two years left to run on his Fulham deal. However, he is understood to have already put together his backroom staff ahead of taking the Bournemouth job, while Fulham have begun the search for a new head coach.
Stuart Gray is expected to be in temporary charge of Fulham until a new manager is appointed, while Mark Pembridge and Colin Omogbehin have been asked to step up to assist Gray with first-team duties.
Parker - who spent four years as a player at Fulham - was made interim manager in February 2019 and, although he could not save them from relegation from the Premier League, became full-time boss that summer.
The 40-year-old then led Fulham back to the top flight at the first time of asking thanks to a play-off final victory over London rivals Brentford.
However, Fulham were relegated back to the Championship last season after a disappointing return to the Premier League which saw them win just five matches.
Fulham's return to the second tier means they will face Parker's new club Bournemouth home and away next season.
The Cherries returned to the Championship last season after five years in the Premier League but could not achieve promotion at the first time of asking, falling in the play-off semi-finals to Brentford.
They began the campaign with Jason Tindall in charge following the departure of Eddie Howe, but he was sacked in February and replaced by Woodgate on a caretaker basis.
The new Championship season begins on the weekend of August 7/8. Fulham will host Middlesbrough while Bournemouth will welcome West Brom, who were also relegated from the Premier League last season.