Nwakaeme is a free agent this summer following his departure from Turkish champions Trabzonspor and is looking for his next challenge.
The 33-year-old, who is capable of playing across the front line, is now on his way to test his mettle in the English second tier with Hull.
He is travelling to England with his agent and is expected to sign a contract with Hull, according to Turkish journalist Yagiz Sabuncuoglu.
Trabzonspor signed the attacker from Israeli outfit Hapoel Be’er Sheva and he quickly set about finding the back of the net on a regular basis in Turkish football.
Nwakaeme scored 13 goals in 30 Turkish Super Lig appearances last season as Trabzonspor won the title.
He will now be looking to quickly adapt to the demands of the English game with Hull.
It is unclear what length of contract the attacker will pen with Hull as he continues his career in the Championship.