Mitchell Pearce will sign a four-year, $4 million deal with the Knights, according to News Limited.
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Buzz Rothfield broke the news on Thursday afternoon, but the club is yet to make a formal announcement.
If true, it would be the biggest signing in Newcastle Knights history.
A move to the Hunter would see Pearce re-unite with former Roosters teammates Shaun Kenny-Dowall, Connor Watson and Aidan Guerra, while Kalyn Ponga, Tautau Moga, Herman Ese'ese, Jacob Lillyman and Chris Heighington are also heading to the club.
Manly were making a big play for Pearce, and even released five-eighth Blake Green to make room for him. Cronulla were also in the hunt for the 238-game veteran.
It is understood Newcastle's deal was larger and for longer than anything Manly or the Sharks could offer.
Pearce was granted a release from the Roosters after the tricolours signed superstar halfback Cooper Cronk on a two year deal.