Spurs are said to have reached a verbal agreement to sign the Espanyol shot-stopper.
Spurs will reportedly pay €600,000 (£520,000) to take Lopez on a temporary basis, with a €7 million (£6,100,000) option to buy the player outright next summer.
The north Londoners have been rocked by the news that Hugo Lloris will spend the next four weeks sidelined and Lopez, who played under prospective new boss Mauricio Pochettino in Catalonia, is set to boost the Argentine's options, which currently consist of veteran Michel Vorm and youngster Luke McGee.
The report claims the Spain Under-21 international will continue as back up to Lloris once the Frenchman returns to fitness, pushing Vorm further down the pecking order.
Despite his first team prospects looking slim beyond the next month, Lopez reportedly believes he can grow at White Hart Lane.
The native Catalan, who signed for Espanyol as a 12-year-old, is unlikely to feature regularly for Quique Sanchez Flores' team, who recently acquired Roberto from Olympiacos and are said to have sought a replacement already.