Mick McCarthy will be unveiled as the Republic of Ireland's new manager at a press conference in Dublin on Sunday.
The 59-year-old was at the head of the queue to replace Martin O'Neill, who, along with his assistant Roy Keane, stepped down earlier this week following a miserable run of just one win in nine matches this year.
Reports suggest McCarthy, who has been out of a job since leaving Ipswich in April, will be replaced in 2020 by Dundalk boss Stephen Kenny who is set to be handed the Under 21 post before stepping up to the top job.
The news is set to be confirmed to the media at 3pm on Sunday.
McCarthy will be responsible for the international futures of a group of Preston players including Sean Maguire, Callum Robinson, Alan Browne and Graham Burke.
He will be given the opportunity to revitalise the Republic, with whom he won 57 caps during his playing career before taking the reins for the first time in 1996 after leaving Millwall.
Under McCarthy, the Republic missed out on qualification to the 1998 World Cup and Euro 2000.
His tenure concluded at the 2002 World Cup in Japan and South Korea, where, despite the departure from the squad of Keane following a bitter fallout with McCarthy, the Republic reached the last 16.
Since then, McCarthy has had varying degrees of success at Sunderland, Wolves and Ipswich.