ESPN reported that Gruden will receive a 10-year deal that could be worth close to $100 million.
The previous coach Jack Del Rio was sacked after the last game of the season, and Gruden is set to interview with them Monday.
ESPN reported Saturday that Raiders owner Mark Davis was prepared to pursue Gruden with a strong offer that could include an ownership stake in the team, which would have to be approved by National Football League owners.
Despite not coaching in almost a decade Gruden has routinely been a magnet for head coaching rumors.
With the Bucs, Gruden made the playoffs on three occasions and won a Super Bowl over the Raiders in his first year.
The Raiders are scheduled to have two more seasons in Oakland before moving to Las Vegas. Gruden accumulated a 38-26 overall record as the Raiders coach and was 2-2 in playoff games during his four seasons. Gruden has already started putting together a staff with Cincinnati defensive co-ordinator Paul Guenther among those expected to join. Overall, Gruden is 95-81 in 11 seasons.
Gruden told ESPN earlier this week that he had a good talk with Raiders owner Mark Davis about returning to the organization and believed there was a "good chance" it would happen.
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