According to Portuguese weekly Sol the "Angolan federation has already agreed to the financial terms of the coach", although it added that Scolari would only make a final decision after a fact-finding trip to the south-western African country.
Scolari, who led Brazil to the 2002 World Cup, was sacked by Chelsea in February and replaced by Dutchman Guus Hiddink, who is currently serving on an interim basis.
Angola, who qualified for the 2006 World Cup in Germany, are currently out of the running for the 2010 World Cup in South Africa having finished second behind Benin in a round two mini-league.
Angola however are keen to re-install confidence in their team ahead of their hosting of the 2010 African Nations Cup.