Former Chelsea boss Andre Villas-Boas is currently in charge at Shanghai SiPG, and has given the go-ahead for the big-money move.
The 25-year-old has fallen out of favour under new boss Antonio Conte, and confirmed his impending departure when asked.
“It’s 90 per cent certain,” he told SporTV . “It just depends on a few bureaucratic details.”
Oscar has not started for Chelsea since the middle of September, but the fee is still understood to be in the region of £52million.
He would become the second Blues player in the last 12 months to make the switch to China after Ramires joined Jiangsu Suning last January.
This comes after Antonio Conte denied that Oscar or Cesc Fabregas would leave the club in January.
“It’s gossip, I’m not going to send them away,” he told Gazzetta dello Sport.”They’re important players for Chelsea.”