The German international moved to White Hart Lane from Schalke in the 2013 January transfer window, but has failed to establish himself in the Spurs first team.
Holtby spent the second half of last season on loan at Fulham, after finding himself surplus to requirements under Tim Sherwood.
And the midfielder was told he was free to find a club by new Spurs boss Mauricio Pochettino, after failing to make the starting XI in their league games thus far this term.
Holtby may not be the only player leaving Spurs on transfer deadline day.
Harry Redknapp is reportedly lining up a loan move for Brazilian midfielder Sandro, while Aaron Lennon could also move to Loftus Road on a temporary deal, although Stoke are also said to be keen on the winger. Defender Zeki Fryers looks set to complete a move Crystal Palace.
The signing of midfielder Benjamin Stambouli from Montpellier for around £6million should also be confirmed at some point on Monday.
- Sports & Recreation
- White Hart Lane
- Mauricio Pochettino