Bielsa has approved a contract and sent it to Leeds, having agreed terms with the club.
The report claims Bielsa has been pencilled in to fly to England on Saturday.
Landing Bielsa as their new boss is a major coup for Leeds, and it comes a fortnight after they sacked Paul Heckingbottom.
Bielsa's contract is for one year, with an option for a second which is automatically extended if the Whites win promotion.
The former Argentina and Chile boss has been out of work since leaving Lille last November.
Leeds are looking to bounce back from a disappointing campaign where they finished 13th.