The PSG striker is reportedly on the verge of completing his switch to the Wanda Metropolitano, and a deal could be finalised on Monday.
Cavani’s brother – who also acts as his agent – is said to be in Madrid working through the final negotiations of the star’s contract.
AS report Cavani’s team have stated “everything will be decided” before the day is out, although it is not known whether that refers just to his personal terms.
Atletico Madrid were believed to be haggling over a fee for the 32-year-old, after PSG demanded £12.7million for his services.
French publication L’Equipe previously reported that Madrid had upped their bid from £8.5m to meet PSG’s valuation.
Cavani would still need to complete a medical before his transfer can be confirmed, making an imminent announcement unlikely.
The medical is not something that is expected to hold up any potential deal however, as sources close to Cavani revealed.
“You can be sure that there will be no problem with Edinson’s medical test, because he is in perfect condition after recovering from the small muscle discomfort he had a few weeks ago,” a source told AS.
Should the deal go through as quick as expected, Madrid could make an announcement on Tuesday or Wednesday, providing he passes the relevant tests.
Cavani is set to sign a two-and-a-half year deal at Madrid, with the option of another year dependant on performance objectives.
Man Utd and Chelsea were in the frame for Cavani’s signature, but were not prepared to offer that length of contract to the frontman, considering his age.
The Red Devils were hopeful of securing Cavani’s talents on a short-term basis to ease their striker crisis.
Chelsea could now turn their attentions to Tottenham target Kryzystof Piatek, who is surplus to requirements at AC Milan.
Spurs have gone cold on a transfer, with Milan asking for £30million and rejected offers of a loan.