Eriksson is flying to Asia this week for final talks to take charge of the North Korea team, British media reported on Wednesday.
The 61-year-old Swede, who twice led England in the tournament, was to meet soccer chiefs from Pyongyang in Beijing, The Guardian said.
Eriksson, Notts County football director, was to travel with the club’s executive chairman Peter Trembling, the daily said.
Trembling had already been involved in talks with intermediaries representing the Football Association of the Democratic People’s Republic of Korea about a loan for Eriksson’s services.
“The process is now advanced enough for Trembling and Eriksson to be travelling to Beijing later this week on an eight-day trip,” The Guardian said.
The newspaper said North Korea’s embassy in London suggested an announcement could be made in “two or three weeks”.
The rogue state of North Korea has qualified for the final stages for the first time since 1966.