The 23-year-old is set to leave Everton for an initial £13 million, with a further £9 million potentially payable in add-ons.
Iroegbunam, who joined Everton from Aston Villa for £9 million in 2024, has been granted permission to undergo a medical in East Yorkshire ahead of the move.
The transfer is part of a busy end to the window for both clubs, with Hull aiming to complete several more signings before Tuesday night’s deadline.
If completed, Iroegbunam will become Hull’s 13th signing of the summer. The club are also continuing talks over a potential loan move for Chelsea midfielder Dario Essugo.
Everton are also reshaping their squad, having agreed a £65 million deal to sell winger Iliman Ndiaye to Manchester City.
The Merseyside club are close to signing Monaco striker Folarin Balogun and are in talks over moves for Manchester City winger Jack Grealish and Fulham defender Kenny Tete.
However, negotiations over a potential return for Tottenham forward Richarlison have stalled, with his return to Everton now unlikely.
