Jese Rodriguez has agreed a deal to join Las Palmas from Paris Saint-Germain, according to the club's president, Miguel Angel Ramirez.
The forward has been the subject of a transfer battle between the Canary Island club and Premier League side Middlesbrough this month, with both said to have made offers during the last week.
Liverpool and Roma were also linked with the 23-year-old earlier in the window, but Ramirez has always maintained that Jese's first choice was to return to LaLiga, despite the club's inability to match the wage offers from elsewhere.
The former Real Madrid man now looks set to join his boyhood club, with Ramirez confirming that an agreement over a move has been reached, with Jese willing to snub more lucrative offers in order to go back to Spain.
"The Jese procedure is practically finished, there's a complete agreement," Ramirez told UD Radio.
"The intention is to present him tomorrow [Tuesday] in the Estadio Gran Canaria in front of all the fans. We need the best number of fans possible at the presentation.
"Jese is losing a huge amount of money but he wanted to defend the colours of Las Palmas.
"We can't go more into the deal than we have. Ultimately, our objective was to get Jese and that's been possible.
"We have the possibility of signing one more player but the coach does not want to make the squad too big. His opinion is very important when it comes to making the right decisions, and he's satisfied."