Neil Shipperley is expected to complete a transfer to Sheffield United later on today.
The former Palace captain has been heavily linked with a move to Bramall Lane after being told by Iain Dowie that he is no longer in the Palace boss’s plans.
United manager Neil Warnock told BBC Radio Sheffield he is set to complete the transfer of an as yet unnamed player, widely believed to be Shipperley.
"The player and ourselves have agreed terms. There are a few complications in other areas but we're optimistic we'll have positive news soon," he said.
"The main problem is between the player and his current club but they are trying to thrash out a compromise."
Shipperley scored Palace’s winner in the 2004 play-off final, but was unable to command a regular starting spot last season.
He will become the second play-off hero to be sold to one of next season’s promotion rivals, after defender Darren Powell left on a free transfer to Southampton.
Powell scored the last-minute goal that took Palace to extra time and penalties against Sunderland in the 2004 play-off semi-final.