Having entered the final year of his contract, the 28-year-old has been linked with a move away from Brentford throughout the summer transfer window.
Chelsea, Manchester United and Arsenal have all previously been credited with an interest in the England international, but he appears set to swap the Premier League for the Saudi Pro League.
Earlier on deadline day, it was reported that Brentford had agreed to a £40m deal to sell Toney to the Saudi Arabian club.
Al-Ahli have also been pursuing a move for Napoli forward Victor Osimhen, raising some doubt as to whether they would complete the Toney move.
Toney closing in on Al-Ahli move?
The Saudi Pro League side are unwilling to sign two marquee strikers, meaning only one of Toney or Osimhen will join Al-Ahli during the current window.
Napoli have reportedly increased their financial demands for Osimhen, while Chelsea are also interested in signing the Nigeria international.
As a result, Toney is seemingly in pole position to join Al-Ahli, and he appears to be putting the finishing touches to the potential transfer.
According to Sky Sports News, the England international has now completed his medical ahead the proposed transfer.
The move does not have to be completed by tonight's transfer deadline, with the Saudi Arabian transfer window open until September 2.
What other notable names play for Al-Ahli?
If Toney does join the Saudi Pro League, he will follow in the footsteps of several other players to leave the Premier League for Al-Ahli.
Edouard Mendy, Riyad Mahrez and Roberto Firmino all left the English top flight to join the Saudi Arabian club last summer.
Al-Ahli's other notable names include former Celta Vigo attacker Gabri Veiga and ex-AC Milan midfielder Franck Kessie.
Matthias Jaissle's side have experienced a mixed start to the Saudi Pro League season, beating Al Orubah before losing to Al Fateh.