Harry Kewell in frame to replace Kevin Muscat at Yokohama F. Marinos
Tough-tackling former international Muscat has been in charge since July 2021 and won the J-League last year, before finishing second in the just-concluded season.
The 50-year-old replaced Ange Postecoglou at Yokohama when the now-Tottenham coach left to take over at Celtic.
Former Wolverhampton Wanderers, Crystal Palace and Rangers defender Muscat will take charge of Yokohama for the last time in the Asian Champions League on Tuesday.
Muscat said in a statement released by the club that "all the players... have contributed to achieving more points than any other club and scoring more goals than any other club.
"And in true Marinos way, playing an attacking and exciting brand of football."
Muscat could be succeeded by Kewell, the former Liverpool and Leeds United forward.
The Sponichi sports daily said talks are "proceeding smoothly" with the 45-year-old, who is currently a first-team coach at Scottish champions Celtic.
Kewell won 58 caps for Australia, appearing at two World Cups and winning the 2005 Champions League with Liverpool.
He has never reached the same heights as a manager in lower-league English football with Crawley Town, Notts County and Oldham.
Kewell was sacked by fifth-tier Barnet in 2021 after failing to win in his first seven matches as manager.
