Leto, who spent last season on loan at Greek champions Olympiakos, says he is "90 per cent" certain he will play at Panathinaikos next season.
"I am very close to [joining] Panathinaikos," said Leto. "There are negotiations between Panathinaikos and Liverpool and as far as I know the two sides are very close to a deal. I think that the possibilities of playing at Panathinaikos next season are more than 90 per cent.
"I have been waiting for something from Olympiacos all these weeks but they haven't made a move for me so far.
"It's not a matter of money. I wanted to stay at Olympiacos but since they don't want to sign me I have to think about my future."