The 48-year-old Dutchman would replace Steve Cooper, who was sacked after just 157 days in charge following Saturday’s 2-1 Premier League defeat by Chelsea.
Van Nistelrooy’s appointment comes two weeks after he left his role as interim head coach at Manchester United, following Erik ten Hag’s dismissal.
He oversaw three wins and one draw during his stint in charge at United, but departed after being told he would not be given a role in new manager Ruben Amorim’s backroom staff.
Two of Van Nistelrooy’s victories were against Leicester – a 5-2 win in the Carabao Cup last 16 and a 3-0 triumph in the Premier League earlier this month.
The former Manchester United and Netherlands striker will join the Foxes with the club 16th in the Premier League after 12 games and just one point above the relegation zone.
Cooper was hired this summer to replace Enzo Maresca after the Italian joined Chelsea, but only won two Premier League games.
Van Nistelrooy’s only previous full-time role managing a senior side was a season in charge of PSV in 2022-23 where he won the Dutch Cup, before joining United as an assistant coach in July.
Leicester’s next game is away at Brentford on Saturday in the Premier League and while it is unclear if Van Nistelrooy will be in the dugout, the proximity to the weekend means it is unlikely he will take charge of the team.
Leicester caretaker manager Ben Dawson, part of Cooper’s backroom staff, remains poised to lead the side.
Van Nistelrooy must win over a dressing room which struggled to buy into Cooper’s methods during his period in charge.
Senior players, including Jamie Vardy, did support the former Nottingham Forest boss but he lacked buy-in from the entire squad.
From BBC SPORTS
