Gonzalo Garcia and Cesar Palacios have undergone medicals with Fulham, ahead of sealing permanent moves from Real Madrid, according to Sky Sports.
The combined fee for both players is around £42.3m.
Garcia, a 22-year-old striker who was top scorer at the Club World Cup last summer, is set to move for around £34m.
Meanwhile, Palacios, an 18-year-old midfielder who made his senior debut for Real Madrid in January, is costing Fulham around £8.5m.
New Fulham head coach, Alvaro Arbeloa, has been a driving force behind these two deals.
Arbeloa is familiar with both Garcia and Palacious from his time at Real Madrid as first-team coach and working in the academy.
Transfer: Two Real Madrid players undergo medicals ahead of move to EPL