The Frenchman arrived at Spurs in the summer of 2019 for a club record fee of €60m from Ligue 1 giants Lyon.
However, the midfielder has struggled to live up to his billing at Tottenham, and the club were keen on offloading him this month.
Ndombele had interest from a number of clubs this month but ultimately his former side Lyon emerged as frontrunners to secure his signature.
The 25-year-old returned to France on Sunday to wrap up a loan move to Lyon from Spurs and both clubs have now reached an agreement over a six-month loan deal for him.
According to French journalist Julien Maynard, Spurs have also managed to include and option to make Ndombele’s move to Lyon permanent for a €65m fee.
Ndombele is expected to sign on the dotted line to seal the deal to join Lyon in the afternoon and the club’s channels are tipped to make an official announcement soon afterwards.
The Frenchman does not play a role in Spurs boss Antonio Conte’s plans at the club and Lyon did not have to pay a loan fee to take him back to his homeland.