The Madrid-based Spanish sports daily claims that an official announcement will be made next week, and that Krohn-Dehli will put pen to paper on a three-year deal.
The 31-year-old midfielder is on the books of Celta de Vigo at the moment, but his current contract with the Spanish outfit runs out at the end of June.
The latest development on the future of the Denmark international will come as a blow to Tottenham, who have been linked with a move for him this summer.
The Daily Star reported earlier this month that the Premier League club remain keen on acquiring the services of Krohn-Dehli on a free transfer.
However, it now seems that the former Brondby IF star is set to remain in Spain and play for this season’s Europa League winners Sevilla.
Krohn-Dehli scored one goal and created 69 chances in 36 La Liga appearances for Celta in the recently concluded 2014-15 campaign.
The former Ajax midfielder had a pass accuracy of 85% and a shot accuracy of 24%, and he won eight headers, 51 dribbles and 39 tackles.