The north Londoners' need for attacking reinforcements has been well documented, as has their desire to bring in the Spain international.
The club have now taken a significant step towards getting their man by confirming a fee had been struck for the 28-year-old who has been a prolific goalscorer in the Primera Division.
The Primera Division club's president Amadeo Salvo last week warned Spurs they would have to meet the 30million euro (£26million) buy-out clause if they were to sign the striker.
That fee would see Tottenham break the club transfer record set when they signed Paulinho for £17million from Corinthians earlier in the summer.
Confirming the Soldado move, a statement on the Tottenham official website said: "We are delighted to announce that we have reached agreement with Valencia for the transfer of Roberto Soldado subject to medical."
President Salvo initially said Los Che had no intention of selling Soldado, although it became clear that his departure was edging closer.
"The agreement with Tottenham is total,'' president Salvo was quoted as saying at a restaurant in La Patacona by lasprovincias.es.
"A problem has arisen with the (player's) agents,'' he added. "(If it is resolved) he will go.''
Soldado impressed at Valencia after joining from Getafe three years ago, plundering 80 goals during his 146 appearances for the Mestalla club.
He netted 24 goals in La Liga last season and has become an established member of the Spain team, who he helped to runner-up spot at this summer's Confederations Cup.
Soldado hails from Valencia but began his career at Real Madrid, scoring 63 goals in 120 league appearances for the B side, Real Madrid Castilla. He also represented the senior team on 16 occasions.
The Spaniard's impending arrival boosts a Spurs strike force that was found light last season, with Jermain Defoe and Emmanuel Adebayor the first-team's only out-an-out attackers.
Gareth Bale was sometimes played in a more advanced role but Tottenham are in the midst of a fight to keep him from the clutches of Real Madrid, who are reportedly willing to pay a world-record fee for the Wales international.