"Blackburn have given me permission to fly out to Greece to talk to Olympiakos and undergo a medical," Derbyshire told skysports.com. "I am excited at the prospect of joining such a big club as Olympiakos and when I found out about the possibility of moving there it was something I looked at.
"I saw they were top of the league and I have been told by various people they are the biggest club in Greece with fanatical fans. I know players like Tresor Lomana Lua Lua had a spell there and fingers crossed everything all goes to plan so I can join Olympiakos.
"I had the opportunity to stay in England as other clubs were interested in me, but I fancied this opportunity to join one of Europe's biggest clubs. It gives me the chance to play in Europe and experience a different culture and I am really looking forward to it."
Derbyshire could make his debut in the Athens derby with AEK Athens and the England Under 21 international is relishing the opportunity of making his bow this weekend if his move goes through on time.
He added: "Olympiakos play local rivals AEK Athens this weekend and I would love to play in a game like that.
"I am determined to go there and prove my worth and help Olympiakos achieve success this season."