An Olympiakos spokesman told Reuters the Piraeus club were scheduled to hold talks with their former player and that an agreement could be completed within 24 hours.
Mitroglou signed for Fulham on the last day of the January transfer window for a reported fee of £12.4 million pounds ($20.6 million) after scoring three hat-tricks at the start of the Greek campaign and firing his country to the World Cup. But injuries hampered his spell in London and he was rarely used by Fulham coach Felix Magath, starting only one match as the side slumped to relegation from the Premier League in May.
According to reports, Fulham want a £2.5 million loan fee for the 26-year-old. (1 US dollar = 0.6026 British pound)