Sandro Tonali will travel to Tyneside to formalise his transfer to Newcastle once Italy's participation in the Under 21 Euros has ended.
Newcastle have agreed a deal to sign the AC Milan midfielder for £55m.
Reports in Italy that the deal will cost Newcastle as much as €80m (£69m) are incorrect; that would have represented a club-record transfer for Newcastle.
A transfer delegation flew to Milan last week where they reached a verbal agreement with Milan, before flying on to Romania where Tonali is based with Italy, to agree a six-year contract with the 23-year-old.
Tonali's agent said on Friday that loose ends of the deal still needed tidying up by both clubs, but that has now been concluded.
Italy do not want a key player leaving their camp until their tournament participation is over, so only then will Tonali be allowed to travel to Newcastle to formalise his move.
Italy play Norway in their final Euros group game on Wednesday evening, but they still have a chance of progressing to the knock-out stages.
Newcastle could yet confirm the transfer before Tonali has a chance to travel to the UK.
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