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Juan Cuadrado will have his medical at Chelsea tomorrow before completing his £26.1m transfer from Fiorentina, with Andre Schurrle and Mohamed Salah both heading out of Stamford Bridge.
It means the Colombia winger will not be registered in time to face Manchester City in the potential title decider tomorrow night, but his arrival will give Chelsea's squad a major boost for the rest of the campaign.
The 26-year-old, who impressed at the World Cup last summer with four assists, has already agreed personal terms. Crucially, he is also available to play in the Champions League, which resumes next month with a last-16 tie against Paris Saint Germain.
Chelsea: The players linked with a move to Stamford Bridge this month
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Fiorentina coach Vincenzo Montella confirmed at a press conference on Friday afternoon that the winger had signed for the west London club.
"It was a sale that had to be done," said Montella. "The club has done the right thing because we are also getting a very good player.
"Naturally, we need to understand how long he ( Salah) will need to adapt to our football as it's different from the English and Swiss leagues. From a defensive standpoint, Cuadrado guarantees us a lot more than Salah.
"Cuadrado is a player that has always arrived with a smile and given everything to Fiorentina. I am convinced that if he could have played tomorrow he would have.
"I'm happy for him because he is going to a big club. "
Chelsea stepped up their efforts to sign him during the week after manager Jose Mourinho urged them to meet the asking price.
The club had been unwilling to pay the £26.1m buy-out clause, but have struck a compromise where they will pay £23.3m and send misfit Salah there on loan for up to 18 months without charging a fee.
Cuadrado's arrival will also see the departure of Schurrle, who is set to join Wolfsburg for a fee of up to £27m.
The German international, who joined from Bayer Leverkusen for £18m in 2013, wants to leave west London after being frozen out of the first team by manager Jose Mourinho.
Wolfsburg initially bid £23.5m, but Chelsea wanted closer to the £30m mark and now the two clubs have met in the middle, with the total sum including some add ons.
The 24-year-old is expected to travel to Germany today to undergo a medical before putting pen to paper on a long-term contract.
Chelsea's transfer dealings once again shows their commitment to complying with Uefa's Financial Fair Play rules and using fringe members of the squad to fund moves for better talent.
Mourinho is looking to spend big again in the summer to improve the strength in depth, a point he felt proved by their shock exit to Bradford in the FA Cup last week when a second string took tot he field.
A number of high profile targets are on the wish-list, including defender Raphael Varane, midfielders Paul Pogba and Sami Khedira, plus strikers Mauro Icardi and Anderson Talisca.
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