The Sun says the Italian will be told he can have the job if he shows he is the right man to manage England. With Jose Mourinho officially ruling himself out last night, the job is Capello's to lose.
He is now the overwhelming favourite to replace the axed Steve McClaren.
Capello and son Pierfilippo, who is his advisor, will meet FA chief executive Brian Barwick tomorrow or Thursday. If the former Real Madrid chief impresses in the interview he can expect to be unveiled as the new manager - possibly as early as Friday.
Capello wants the job and is flattered by FA's interest. He has no intention of laying down any diva-like demands and will play it Soho Square's way.
Capello is keen to have ex-Chelsea star Gianfranco Zola as an assistant.
But Capello says he will happily agree to FA demands to have some English involvement on his coaching staff.
Under-21 boss Stuart Pearce and strike legend Alan Shearer are in the running for a top role.