Sources close to Olij confirmed the news to Voetbal International, who reported that Olij would sign a four-year contract with the now 26-time Dutch champions.
Rumours of Olij joining PSV arose shortly after PSV's title prolongation in May, after it became clear Walter Benitez would leave the club after his contract expired this summer. Reserve goalkeeper Joel Drommel will be allowed to leave this summer.
The 29-year-old stopper reportedly has a release clause of €3 million in his Sparta contract. Olij is currently working towards the Netherlands' World Cup qualifying match against Malta on Tuesday.
Competition
Olij will likely not be the only goalkeeper PSV want to attract this summer. Bayern Munich's Daniel Peretz is being named as another potential target and would have to compete with Olij for the starting role.