The Lilywhites could be waving goodbye to long-serving number one Hugo Lloris this summer ahead of the expiry of the Frenchman's contract in the summer of 2024.
Lloris remains Tottenham's undisputed first choice in between the sticks but has experienced a stark decline in performances, making a record four errors leading to a goal in the Premier League last season.
Amid interest from Saudi Arabia and speculation over a possible return to Nice, Lloris - who turns 37 in December - has confirmed that he would be open to an exit from the Tottenham Hotspur Stadium this summer.
With Fraser Forster also in the twilight of his career and neither Brandon Austin nor Alfie Whiteman enjoying first-team breakthroughs yet, Tottenham have been in the market for a new shot-stopper and have been linked with several big names.
Brentford's David Raya was rumoured to be one of Spurs' main targets, but the Lilywhites were put off by the Bees' £40m asking price for a player who is also out of contract next summer.
Valencia's Giorgi Mamardashvili and Manchester United's Dean Henderson have also been named as possible candidates, but according to Sky Sports News, a deal is almost in place for Vicario.
The report claims that Tottenham and Empoli have struck an agreement in principle over a €20m (£17.2m) fee excluding add-ons, and Spurs are expected to make a formal bid on Thursday, which should be accepted by the Italian club.
Such a transaction would see Vicario become the most expensive sale in Empoli's history, two years after joining the club from Cagliari on an initial loan deal.
A product of the Udinese youth academy, Vicario represented Le Zebrette, Fontanafredda, Venezia, Cagliari and Perugia before joining Empoli, who paid €8.5m (£7.3m) to sign him permanently last year.
The 26-year-old has kept 14 clean sheets in 71 appearances for the club in that time, helping Empoli achieve Serie A survival with back-to-back 14th-placed finishes.
Vicario - who stands at 6ft 4in tall - recorded seven clean sheets in 31 Serie A appearances during the 2022-23 campaign, and his form has attracted the attention of Italy manager Roberto Mancini.
Vicario is yet to make his debut for the Azzurri, but he earned his first senior call-up in September of last year and was an unused substitute throughout their recent Nations League finals campaign.
Should Tottenham have a formal bid accepted later this week, Vicario could become Ange Postecoglou's second permanent signing as head coach following the return of Dejan Kulusevski from Juventus.
Spurs are also thought to be in the market for a new centre-back and have been credited with an interest in Crystal Palace's Marc Guehi, Fulham's Tosin Adarabioyo and Bayer Leverkusen's Edmond Tapsoba.