Dos Santos has endured a nightmare four-year spell at White Hart Lane, making just two Barclays Premier League starts since he signed from Barcelona four years ago.
The 23-year-old Mexico forward has had loan spells at Racing Santander, Galatasaray and Ipswich, but Sevilla and Atletico Madrid have recently been linked with signing the player on a permanent basis.
Dos Santos, who will represent Mexico at the Olympics, has been allowed to leave the country's training camp this weekend to return to Europe, where he will complete a move to an unnamed club, the country's coach Luis Fernando Tena claims.
"He asked us if he could complete the transfer from Tottenham to another team," Tena was quoted as saying mediotiempo.com.
"He has to go to sign papers, he has to go to get them sorted out.
"The most important thing is his mental state. We never had a doubt when he told us (he wanted to go back to Europe). We told him: 'Go. Do it.'"
"He told us the name of the club. I can't say which club, but for us it is much better if he is relaxed, that he gets his contract sorted and that he comes back physically and mentally at his best level, content and knowing that he is going to play."