Swansea City had offered Potter a new contract in an attempt to ward off interest from the Seagulls, who sacked Chris Hughton following the end of the season.
However, after initially rejecting Brighton's approach, former Ostersunds boss Potter now appears set to be unveiled at the American Express Elite Football Performance Centre later.
Brighton chairman Tony Bloom had wanted to appoint a new manager as quickly as possible to aid pre-season planning ahead of the 2019-20 campaign.
Potter, who turned 44 on Monday, had two years left on his current deal at the Liberty Stadium.
Appointed last summer, Potter guided his side to a 10th-place finish in the Sky Bet Championship.
Potter was credited with playing an attractive brand of football, even though financial constraints at the Welsh club saw him lose 16 first-team squad members.