The world's dominant search engine has been the focus of a commission investigation since November 2010 when more than a dozen complainants across Europe accused the company of promoting its own services at their expense.
Google has now made three attempts to resolve the case, with the latest moves looking like they will be enough to settle it, although there will still be a chance for Google's competitors to provide further input.
As part of the deal, Google will let three rivals display their logos and web links in a prominent box.
European Competition Commissioner Joaquin Almunia said: "I believe the new proposal obtained from Google after long and difficult talks can now address the Commission's concerns."
The commission said it would make a final decision after obtaining feedback from Google's rivals. Google said it hoped to draw a line under the case soon.