Felipe Scolari will be named for a second spell as coach of the Brazilian national side on Thursday, press reports said on Wednesday.
"The Brazil Football Federation (CBF) has already chosen its new coach: Luiz Felipe Scolari will replace Mano Menezes," the GloboEsporte website said.
An official announcement is expected on Thursday.
Scolari, who previously coached Brazil to World Cup glory in Japan in 2002, will be charged with bringing further success on home soil in 2014.
Scolari, 64, is available after recently parting company with Palmeires.
The CBF sacked Menezes last week after just two years in the job, with the Selecao having lost in the quarter-finals of last year's Copa America and then going down to Mexico in the Olympic final in London.
Five-times world champions Brazil are eager that the new man should use next year's Confederations Cup to blood new stars as they prepare to secure a first World Cup in the country since 1950.
In his first stint as Brazil manager, Scolari was forgiven for a pale Confederations Cup showing in 2001 after he led the Selecao to the World Cup win in Japan the following year.
He later coached Portugal and led them to the final of Euro 2004 on home soil before a disastrous spell with Chelsea in 2008.