He is believed to have signed an 18-month contract with the BBC that will cover the next Fifa World Cup in the US, Canada and Mexico, but will step back from the broadcaster's football highlights programme at the end of the 2024-25 season.
BBC News said that an announcement would be made today after the Sun first reported the story.
The former England striker, 63, took over in the chair from Des Lynam in 1999, and has been a presence on football fans' screens on Saturday nights for 25 years.
For his work on Match of the Day, he was nominated for a National Television award in 2017.
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