The winger is not yet at the Barclays Premier League club to put the finishing touches to the deal but could be a Villa player by the time they face Manchester United on Friday
Stoke were also interested in the 19-year-old but Villa are now understood to be in pole position.
Traore has been a long-term target of boss Tim Sherwood, who refused to discuss any deal last week
He said: "He's a good player, but at the moment he's a Barcelona's player."
Traore, a Spain Under-19 international, has risen through the ranks at the Nou Camp and would offer Sherwood further attacking options
He would become his 10th signing of the summer should the deal go through as Sherwood continues a summer revamp in the wake of the exits of Christian Benteke, Fabian Delph and Ron Vlaar.
The boss had suggested he would target English players after raiding France for Jordan Veretout, Jordan Amavi and Jordan Ayew but instead Spaniard Traore is close to joining.
England winger Aaron Lennon is also a potential signing for Villa with the winger on the fringes at Tottenham.
Source : PA
Source: PA