The 24-year-old joined Qarabag last summer, going on to score 15 goals and provide one assist in his 45 games across all competitions.
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It’s understood that Duran will head to Celtic for a fee in the region of £6 million and will become their first signing of the summer.
Speaking ahead of their first pre-season friendly against Shelbourne, manager O’Neill all but confirmed the deal.
“I think at this minute Duran will be coming in,” he said.
“He’s doing a medical, I think, just as we speak. If he’s not doing it tonight, he’ll be doing it tomorrow morning, and hopefully he’ll join us in Portugal (for the upcoming training camp).”