According to reports from Radio Monte Carlo in France, the Brazil winger-forward has agreed terms with the big-spending principality side and will complete the transfer later on Wednesday.
Hulk, who rose to prominence with his all-action displays for Porto, has had a troubled season in Russia, as some racist fans demanded foreign players be barred from the club, while his form also dipped on the pitch.
It is worth noting though that no official sources have commented on the reported deal, and that the figure of 60m euros seems strangely high for a player who cost 40m less than a year ago and has only scored seven league goals since.
Hulk's agent remained tight-lipped on the reports.
"It is up to the club to communicate this information," Teodoro Fonseca told RMC.
But his stock is still high, it seems, and he looks set to join former Porto team-mate Radamel Falcao at the promoted team.