The Manchester United striker performed a dramatic U-turn on Wednesday, rejecting the advances of Serie A clubs Fiorentina and Juventus to undergo a medical with the Cottagers.
And if all goes to plan this morning, the 31-year-old Bulgarian will call time on his four-year spell at Old Trafford to be reunited with Martin Jol, whom he worked under at Tottenham.
Jol has money to spend after selling Mousa Dembele to Spurs and believes securing Berbatov's services would represent a massive coup for Fulham.
He said: "I'm a very happy man and I think our fans will be very happy and proud because it is probably the biggest (signing) in the history of the club, that is how I feel."
The two worked together at Tottenham before Berbatov moved to Manchester United and Jol said: "I said in my last period at Spurs he would go over my dead body but I'm still here and so is he.
"We have a good relationship. He knows he will enjoy his football with me that is for sure, hopefully he will score goals with other good players around him.
"He has got a very good record, if you look at his record internationally, and if you look at his record at Manchester United I don't think there are a lot of strikers, maybe (Robin) van Persie in five years' time, who could achieve that."
Jol still expects 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."