It is nearly 90 days since Neil Lennon exited the managerial post at Parkhead with John Kennedy taking interim charge.
Former Bournemouth manager Howe has been the favourite for a number of weeks.
A key part of Howe’s deal is the arrival of coaches Stephen Purches and Simon Weatherstone who he worked with at Bournemouth.
A big summer rebuild is planned at Parkhead. Dominic McKay has already taken over as chief executive and a new director of football could also be installed soon.
On the playing side Howe will have a big job on his hands with key stars likely to attract interest from around Europe.
Kristoffer Ajer, Odsonne Edouard and Ryan Christie will be just some of the club's talents linked with a move this summer.
The 43-year-old has recently received the backing of Sir Alex Ferguson. The managerial great believes he is still a fine manager despite having a relegation on his CV.
Howe, over the course of two spells and more than 450 games in charge, took the Cherries from League Two to the Premier League.
Their five-year stay in the English top-flight came to an end last summer and the manager took the decision to step away with assistant boss Jason Tindall taking over.
Bournemouth lost to Brentford in the Championship play-offs this weekend.