Mgr Alfred Xuereb, a former secretary to the Pope, is expected to be nominated apostolic nuncio to Seoul, South Korea, according to Italian press reports.
Mgr Xuereb, 59, is currently serving as prelate general secretary of the Secretariat for the Economy led by Cardinal George Pell.
He had served as second special secretary of Pope Benedict XVI and for some months also of Pope Francis.
Mgr Xuereb, originally from Gozo, had also been appointed to supervise the activities of the Vatican Bank.