The midfielder spent last term on loan in the Championship at Sheffield United and Nottingham Forest got an up-close look at his talents.
He has been a key target for the Premier League new boys this summer, but reaching an agreement with Wolves, who are not keen to sell him, has been difficult.
They have now made a breakthrough though and will pay an initial fee of £35m for Gibbs-White, with Wolves accepting he will depart.
Wolves will also bank significant add-ons to take the final fee even higher, providing a welcome influx of funds at Molineux.
The transfer is moving quickly and Gibbs-White is expected to report to Nottingham Forest for his medical checks later today.
If he comes through without an issue then he will put pen to paper to a contract at the City Ground and link up with Steve Cooper’s men.
Gibbs-White will become Nottingham Forest’s 16th signing of what has been a busy summer transfer window for the club.
