The 22-year-old Spain international’s buy-out clause was met by Southampton on Sunday after several weeks of negotiations and it is understood he is now in England to undergo a medical and sign a long-term deal.
Aston Villa and Real Sociedad also had interest in Juanmi, who was given his international debut in the recent friendly against Netherlands, but both clubs failed with late offers for the forward.
And he is set to join the likes of Graziano Pelle, Shane Long, Jay Rodriguez and Sadio Mane among Southampton’s forward options next season.
Juanmi – whose full name is Juan Miguel Jimenez Lopez??- came through Malaga’s youth ranks and he became their youngest ever goalscorer in 2010 when he scored in a La Liga game aged just 16.
He had a brief loan spell at Racing Santander in 2013 but has made 43 league starts for Malaga and scored 18 goals – eight of them coming last season in 34 appearances.