French prime minister Francois Fillon will on Friday travel to the Paul Ricard circuit in Le Castellet.
According to Le Parisien newspaper in an exclusive report, he could announce the deal is finally done to revive the French grand prix for 2013.
A source said Fillon will provide an update and indicate that France is "ready" to host F1 again for the first time since 2008 at Magny Cours.
It has been widely reported for some time that negotiations are taking place to annually alternate formula one races between France at Paul Ricard and Belgium’s legendary Spa Francorchamps circuit.
Friday’s media report said Spa is "probably" the circuit that will alternate with France "but it could possibly be another".
It is claimed that Bernie Ecclestone originally demanded a EUR 29 million race fee, but eventually the deal was done for 20m.