Al Hilal defender Abdou Kader Mangane is set to join Sunderland.
The Sun says the Saudi Arabians accepted the Black Cats' offer to take the former Rennes star until the end of the season.
Sunderland will pay a six-figure loan fee subject to the 29-year-old passing a medical.
O'Neill said: "Kader's a player we have made inquiries about loaning until the end of the season. Whether it's with a view to a permanent deal would be dependent on performances.
"In terms of centre-half, we're a bit short."