Hulk was welcomed by more than 1,000 fans at Shanghai's international airport on Wednesday ahead of his expected move from Zenit St Petersburg to Shanghai SIPG.
The Chinese Super League (CSL) club are set to pay around €56 million to sign the Brazil international, which would represent the league's most expensive ever deal.
SIPG have confirmed Hulk will undergo a medical before signing a contract with the club, with Zenit disclosing details of the deal.
"Zenit have reached a preliminary agreement with Shanghai SIPG concerning the transfer of Hulk, and on Wednesday the player will undergo a medical," Zenit press officer Dmitri Zimmerman is quoted by Reuters as telling Sport Express.
"Zenit will receive around €56m, while a further €2m could be added to the total price."
The forward, who joined Zenit from Porto in 2012, is reported to have agreed an annual salary of €20m, which would make him the CSL's best-paid player, though SIPG spokeswoman Yu Chen refused to confirm details of the contract.
CSL clubs are restricted to five foreign players in their squad, with one of the five having to hold a passport belonging to an Asian Football Confederation (AFC) nation. They are permitted to field three foreigners and one AFC player on the pitch at any one time.
SIPG, managed by Sven-Goran Eriksson, currently have five foreigners in the squad, with Asamoah Gyan, Elkeson, Jean Evrard Kouassi, Dario Conca and Kim Ju-Yung on their books.
Chinese clubs spent €270.7m on foreign stars in the preseason transfer window, with the presence of big names from Europe and South America, such as Ramires, Alex Teixeira, Ezequiel Lavezzi, Jackson Martinez and Gervinho, having boosted the CSL's profile at home and overseas.
Information from the Associated Press was used in this report.