The 27-year-old right-back is expected to cost £45m, with £5m in add-ons and will head to Manchester on Friday to undergo a medical.
City have been linked with Walker all summer and, having missed out on Dani Alves, moved quickly to close a deal for the Spurs and England man.
It will not come as a shock to Tottenham fans, who have been preparing for Walker's exit, but it means they lose one of the best full-backs in football.
A graduate of Sheffield United's academy, Walker joined Spurs in 2009 and has played 198 Premier League games for the club.
Last season he faced competition for his right-back slot from Kieran Trippier, but still played 33 times and City's £50m fee equals the record PSG set when they bought David Luiz from Chelsea in 2014.
Wow really? the transfers today are really so overpriced.
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honestly most of this guy are not worth the prices..over hyped and over paid
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Expensive signing. He is not worth that much
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