The Foxes are keen to strengthen their squad further before today’s transfer deadline and have been working on a deal for Lookman.
Leicester have been locked in talks with Bundesliga club RB Leipzig over a deal for the winger and appear to have found an agreement.
Brendan Rodgers’ side are now set to complete the signing of the former Everton star from RB Leipzig on a season-long loan deal.
Leicester will also have the option to make Lookman’s move from RB Leipzig permanent in the future.
Lookman is currently on his way to England as he edges closer to a return to the Premier League.
The 23-year-old spent last season on loan with Fulham, but could not prevent the Cottagers from dropping down to the Championship.
At Leicester, Lookman will be hopeful of helping the side to success and potentially earn a permanent stay with them.