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Stoke have been eyeing the winger as they look to bolster their squad ahead of the new Premier League season.
The Potters' first offer for Kightly was rejected, but Sky Sports understands they have come with an improved offer that has now been accepted by the Wolves hierarchy.
Kightly, who has one year to run on his contract at Molineux, impressed during the second half of last season at Wolves after returning at Christmas following a successful spell on loan at Watford.
Stoke boss Tony Pulis is thought to be a big admirer of Kightly and is keen to add him to the ranks at the Britannia Stadium.
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Kightly is now set for talks with Pulis about a move to the Potteries with Stoke hoping to tie up a deal for the 26-year-old later this week.
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