The former Hull and Wolves defender has been on trial at Celtic and started in Wednesday's friendly defeat to Ukrainian side Sevastopol.
The 26-year-old has impressed Lennon and the club are ready to hand him a one-year deal at Celtic Park.
Lennon is just waiting for Mouyokolo's medical results before finalising the deal with the French defender having suffered a serious knee injury while on loan at Sochaux in 2012.
"We have liked Mouyokolo for a long time," Lennon told the Daily Record.
"He's had a few injury problems but has come on trial and impressed.
"Things have been agreed more or less. He's done a medical and we're just waiting on the reports coming back and if everything is OK, we'll go ahead with it."