Foot Mercato reports that Lens have reached a full agreement with Benfica for the 22-year-old, who was also attracting interest from Lazio.
Ivanovic ultimately chose the northern French side, where he will have the chance to play in the Champions League.
Ivanovic joined Benfica from Union Saint-Gilloise last summer and endured a mixed debut campaign in Portugal.
He made 42 appearances, scoring eight goals and registering three assists, but started only 15 matches for the Lisbon outfit.
The forward is now expected to become Lens’ sixth summer signing this summer after Michaël Cuisance, Thorgan Hazard, Mickael Skoras, Maik Nawrocki and Yacine Titraoui, immediately adding further attacking depth to their squad.
