Leicester are closing in on the signing of the Stoke centre-back and he is set to have a medical with the Foxes.
The centre-back has struggled with injury this season and made just seven appearances in the Championship.
The fee to be earned by Stoke for the sale of the Australian star is set to be £15m and they are hoping to put it to good use.
Stoke are targeting at least two new players that they want to add with the money earned by the sale of Souttar to Leicester.
The Potters started their January business late in the window but could be braced for a frantic deadline day.
Stoke are 18th in the Championship and want to improve by making additions to the squad before the deadline passes.
With Souttar gone, it remains to be seen if one of the positions targeted by Stoke is that of a centre-back and if they are successful in bringing in two new players.
They have already made an offer to sign Marseille winger Konrad de la Fuente.
