The Argentine has agreed terms on a move to Stamford Bridge to become the third permanent head coach of the Boehly-Clearlake Capital regime.
Former Tottenham manager Pochettino emerged as a clear frontrunner after talks with Julian Nagelsmann broke down.
The 51-year-old has been out of work since leaving Paris Saint-Germain last summer and will return to the Premier League two-and-a-half-years after being sacked by Spurs.
Given Pochettino’s emotional connection to the north London, there were understood to have been initial concerns he would be reluctant to move to a major rival.
Still, talks went well and an official appointment is now expected.
Interim Blues boss Frank Lampard could hold talks with Pochettino as the club target a smooth transition process.
Chelsea have endured a miserable first season under the co-ownership of Todd Boehly and face a major rebuild this summer.