The Raith Rovers manager spent yesterday in talks with club officials discussing the details of a contract and is expected to finalise his return to Tynecastle today.
The manager's post has been vacant since Paulo Sergio failed to agree terms on an extension earlier this month and McGlynn was interviewed for the post last Thursday. He is now expected to return to the club he has twice coached on a caretaker basis, and where he has also served as youth coach.
McGlynn has a year left to run on his contract at Raith – a club he joined in 2006 – but the Stark's Park side have already stated they would not stand in the 50-year-old's way were he to be offered the Tynecastle job.
Aside from the chance to take charge of a club in the Clydesdale Bank Premier League, McGlynn will also have felt a personal attraction to the post, having been appointed as a youth coach at Hearts 17 years ago. He became part of the first-team coaching staff under John Robertson, serving as assistant during a UEFA Cup tie with Schalke 04 at Murrayfield.
He was installed as caretaker manager following the departure of Robertson, and reprised the role after George Burley was dismissed by owner Vladimir Romanov. McGlynn will become the seventh permanent manager under the stewardship of the Russia-born Lithuanian banker.
He will be required to guide the club through a transitional phase, with the onus on fast-tracking players from the club's youth system into the first team. McGlynn will already be acquainted with some, having taken the likes of Jason Holt on loan to Raith last season. He has previously won the second division title with the Fife club and reached the Scottish Cup semi-finals.