The Cottagers have seen a number of players depart this summer, including Joe Bryan, Neeskens Kebano and Manor Solomon.
However, they are still yet to make signings of their own, and their hopes of convincing their transfer targets to join the club have not been helped by the speculation surrounding the future of Marco Silva.
The Fulham boss has been offered a lucrative £40m contract by Saudi Pro League side Al-Ahli, which he has decided to turn down.
The West London club will now look to focus on their transfer business, and they could be set to recruit a new striker.
According to journalist Fabrizio Romano, the Cottagers are on the verge of agreeing to a £5.5m deal to sign Jimenez from Wolves.
The Mexico international has already left Wolves training camp in Portugal and a medical could take place as early as Monday.
Jimenez, who has 12 months left on his current contract, joined Wolves on an initial loan deal from Benfica in 2019, before signing on a permanent transfer a year later.
During his five-year stay with the club, Jimenez has scored 57 goals and provided 24 assists in 166 competitive appearances.
The striker has struggled to rediscover his best form since suffering a fractured skull in an away fixture against Arsenal in November 2020.
Since returning from the injury, the 32-year-old has registered just nine goals in 56 matches across all competitions.
Jimenez appears to be a replacement for Serbia international Aleksandar Mitrovic, who is pushing to complete a move to Al-Hilal.
Fulham have already rejected two bids from the Saudia Arabian side, but the two clubs are reportedly close to reaching an agreement.