The Arsenal defender is set to join Aitor Karanka's side on loan as Arsene Wenger wants the player to gain regular first-team football.
Chambers did start the season in the Arsenal starting XI, but is likely to fall down the pecking order when the deal for Shkodran Mustafi is finalised.
It is understood that the former Southampton man turned down offers from Italy and Spain in order to move to Teesside.
The deal is expected to be made official later on this afternoon.