Grant is looking to leave Rochdale after handing in a transfer request at Spotland last month.
The 22-year-old impressed last season for Rochdale, scoring 16 goals in all competitions after arriving from Scunthorpe.
The news of his desire to leave alerted a host of clubs to Grant's possible availabilty with Blackpool hoping to win the race for his signature.
Blackpool boss Paul Ince is keen to bolster his attacking options and he sees Grant as a key addition to his squad.
The Seasiders are short of strikers after seeing Nathan Delfouneso and Matt Derbyshire return to Aston Villa and Nottingham Forest respectively following their loan spells, while Gary Taylor-Fletcher has also left Bloomfield Road after seeing out his contract.