The young Socceroo is in England finalising his move to Manchester City from A-League side Melbourne City.
The 19-year-old will then be sent out on a long-term loan to the Hoops – subject to a work permit being issued.
Reports in Australia claim it will be a two-year loan with Celtic having the option to buy at the end of it – in a similar deal to the one that brought Odsonne Edouard from Paris Saint-Germain for £9million this summer.
Celtic also remain keen on Hibs and Scotland midfielder John McGinn.
Reports on Friday claimed Brighton have held talks with Hibs over a move but Celtic are refusing to be rail-roaded into making another bid.
They have tabled two offers with the last one being £2m – some way short of the capital club’s valuation.
Celtic manager Brendan Rodgers is still hopeful an agreement can be reached. He said: “It is something they will hopefully look to conclude but at this minute John is a Hibs player and doing very well for them.”
Rodgers is also keen to get James Forrest tied up on a new deal. The winger is keen to remain with his boyhood heroes and would like extend his contract beyond next summer.
“I’d be absolutely delighted with that and would love to get that done,” the Scotland cap said.
“There are a lot of big games just now, so I’d love to get that sorted and continue to concentrate on matches.
“If the club make it clear they want to give me a new contract, I’d be delighted to do it.
“I’ve only ever been here and would love to work hard for as long as I can.
“I know how big this club is and every match is high pressure, you are going for trophies and trying to play in the Champions League.
“It’s an unbelievable club and I’m just going to keep working hard to stay here for as long as I can.”
Forrest was speaking as Celtic announced Scotland’s biggest shirt sponsorship deal with online gambling firm Dafabet for the next seven years.