Lloyd Dyer is set to officially become a Watford player, bringing to an end his six years with Leicester City.
The 31-year-old has agreed a three-year contract with the Hornets.
He will be unveiled when his contract with City runs out later this month.
Other clubs expressed an interest in signing Dyer, but it is Watford who have completed the deal.
Dyer, who joined City in 2008 when Nigel Pearson first took over as manager at City following their relegation to League One, had wanted to sign a new contract with City and end his career at the King Power Stadium.
But he was only offered a one-year contract and rejected it in favour of the long-term security of the Hornets' offer, despite the prospect of Premier League football this season.
The Birmingham-born wide-man has been with City through their rise from League One to the Premier League, and also experienced two play-off campaigns under Pearson.
Dyer made more than 250 appearances for City, scoring 39 goals, during his six seasons but last season was arguably his best in a City shirt as he made 30 starts in the league, scoring seven times.
He also scored three times in the Capital One Cup.
David Nugent remains the only City player whose contract is up at the end of the month and is yet to decide his future.
Nugent's representatives are in detailed talks with City and those talks are described as 'on-going' with reports that other clubs, including Premier League clubs, have made offers to City's top scorer.
Like Dyer, Nugent had his best season in a City shirt, scoring 22 goals in all competitions and breaking the 20- goal barrier in the league for the first time in his career.
The 29-year-old has played in the Premier League before for Portsmouth and Burnley, and the Clarets are one of the clubs believed to be interested in re-signing him.
Talks are also on-going with City players who are about to enter the final year of their contracts. Wes Morgan, Andy King, Danny Drinkwater, Jeff Schlupp, Matty James, Ritchie De Laet, Jamie Vardy, Anthony Knockaert and Liam Moore are among the players with just one year remaining on their current contracts.
Meanwhile, City have opened talks with Cardiff City striker Fraizer Campbell after triggering a release clause in his contract.
