The 22-year-old has been strongly linked to Liverpool in recent days and weeks, but it appears as if that ship has gone.
The report goes on to claim that the Championship club will secure a work permit for Talisca by the weekend which could all but seal the deal.
He would be the club's first signing since Fosun International completed their takeover of the West Midlands club last week.
Signing Talisca would be a huge statement of intent by Wolves, who still have over a month in which to really bolster their ranks ahead of the new Championship season.
Jackett and Wanderers fans will have been disappointed by last season, having challenged for promotion in the 2014-15 season, but with the right signings there is no reason why the Molineux club cannot go back to competing for a Premier League return this season.
Wolverhampton Wanderers manager Kenny Jackett