The Englishman is expected to complete a £4.5 million switch from Turf Moor this week after manager Steve Bruce made the 24-year-old one of his stop summer transfer targets as he prepares for life in the topflight.
Bruce has been chasing the forward for several weeks while talks have been ongoing between both clubs as they haggled over Austin's price-tag.
But a fee has now been agreed and the player has been granted permission to hold talks and undergo a medical with the Premier League new boys.
Austin has just 12 months remaining on his current contract with Burnley, and has made it quite clear he has no intentions of signing a renewal. The Championship side have therefore no other option but to cash in.
The striker has established himself as one of the best finishers in England in recent seasons and his proposed move to England's topflight would complete a sensational rise to stardom for the youngster, who was playing in the Wessex Premier League four years ago.
Since then, he has scored 45 goals in 90 appearances for Burnley, and also netted 37 in 65 appearances for League One outfit Swindon.