Chivu, 44, had almost signed a two-year deal with Parma before Inter approached him, and now looks set to replace Simone Inzaghi.
Inzaghi left Inter to join Al-Hilal after their Champions League defeat to PSG, and will earn a significant salary of approximately €26 million per year.
Chivu is currently in Milan, finalizing the details of his new contract with the club.
He previously worked with Inter's youth team, managing the under-19s from 2021 to 2024, before looking for a first-team management opportunity.
Chivu's experience with Inter's youth team and his playing background with the club make him a strong candidate for the managerial role.