The 31-year-old moved to Old Trafford in 2008 for over £30million from a Tottenham side then managed by Jol and could now be re-united with the Dutchman, becoming the fourth summer signing at Craven Cottage.
Despite a modest fee, reported to be no more than £5million, it was expected Berbatov's wage demands could have scuppered any potential deal.
But with the club having lost Mousa Dembele to Spurs earlier in the week and with Clint Dempsey also wanting to leave the marquee signing of someone like Berbatov will come as a welcome relief to Jol, who also revealed Fulham did not have to break the bank to line up the move.
He also refuted claims that he was re-investing the funds raised by the sale of Dembele, with money already available to bolster his squad.
"As I said last week we are a healthy club, we didn't just need the Dembele money to spend before," he said.
"Of course you have to pay good players good money but I think we have made steps over the last few years and there have been many clubs interested in Dimitar.
"Maybe you saw a few things on the internet, they all tried to get him but we were able and capable of getting him. Hopefully everything is good and that means we are doing the business."
Italian side Fiorentina suggested earlier in the day that the former Bulgaria captain had reneged on a move to them in order to sign for Juventus.
A statement from Fiorentina read: "During today [Thursday], the English club granted its affiliated written permission for the player to travel to Florence for a medical and to sign the contract.
"(We thought) the player had embarked, accompanied by his attorney, on a flight - tickets paid for by Fiorentina - to Florence.
"But the player never arrived in Florence....because of reckless and arrogant actions of other companies, which have nothing to do with the values of honesty, fair play and ethics of sport and that lie beyond the boundaries of loyalty."
Juventus director general Giuseppe Marotta hit back at those claims before suggesting a move to Fulham was the likely outcome.
"We have much to discuss with Fiorentina," he told Sky Sport Italia.
"I reject the allegations from Fiorentina. We entered into the business over Berbatov when we heard that he had refused Fiorentina, and in the meantime there was a proposal by Fulham.
"We made our own, then the player said he preferred to stay in England for family reasons. It was not a rejection."
But Jol was unsure on any link with the Turin side as he finally looks set to land a player he has been chasing for some time,
He said: "Nothing is what it seems, I'm not sure about Juventus.
"Fiorentina will tell you the story he could go to Juventus but they went for one or two other players - but he was on my list the whole time and he knew that.
"I tried to do something months ago and it didn't come off and I came back so for him it was a right moment to make a decision and he made the decision for (a move to) us."
Berbatov's arrival may not be the end of Jol's transfer dealings before the transfer window closes tomorrow ahead of Fulham's early kick-off at West Ham on Saturday.
The 56-year-old confirmed talks are still ongoing with Sunderland over a potential deal for England international Kieran Richardson while other targets also remain on Jol's wish-list.
"We are talking to him and hopefully he will come to us," he said of Richardson.
"We are working on more players, we lost eight players and three players came in."
Jol was upset following the departure of Dembele to Spurs and still expected USA international Dempsey to depart before the window shuts, although he admitted he still does not know the destination of Fulham's top-goalscorer last season.
He said: "With Dempsey there is still nothing on the table. Of course we are talking to different clubs but it is up to him - you know his desire to go to a Champions League club.
"It is always difficult in football, there are different clubs with different scenarios and different options.
"We know exactly what we want and if other clubs come up with the right deal we will probably do it."