The Netherlands international will be re-united with Louis van Gaal after terms have been agreed with the Old Trafford side over a transfer at the end of the season.
PSV and Manchester United have confirmed that they have reached an agreement over the transfer of Memphis Depay.
The Netherlands international had also attracted the interest of Paris Saint-Germain and Liverpool, but he has made the decision to continue his career at Old Trafford instead.
The 21-year-old has already agreed personal terms with United and will undergo a medical in the upcoming days, with a reported €27.5 million deal to be completed once the transfer window opens in June.
“PSV and Manchester United have reached an agreement over the transfer of Memphis to the English giants,” a statement on the club’s official website reads.
“Memphis (21) has agreed personal terms with Manchester United, too.
“All the formalities will be taken care of in the upcoming days and the player has yet to undergo a medical.”
Depay later alluded to his move to the Premier League being a “dream” after an incredible 2014-15 winning the Dutch championship, in which he is likely to finish as the top goalscorer having scored 21 goals with two games to go.
“I always say: dream, believe and achieve,” he wrote on Twitter. “I was dreaming and believing of becoming the champions of the Eredivisie with PSV and we achieved it.
“I’m extremely grateful towards PSV and all the fans for believing in me. Now it’s time to set my goals again on winning trophies with Manchester United.”
Sporting director Marcel Brands, meanwhile, has stressed that PSV are proud to see one of their own youth products make the step up to one of Europe’s biggest clubs.
“We are very proud of this transfer. Memphis came through the ranks of the PSV youth academy and played an important role in our Eredivisie title this season.
“He is an amazing product of our youth academy and will make a nice step up to a great club in a great league.
“Of course, we are losing a fantastic player, but we are happy for him to make this step.”
Memphis made his official first-team debut at PSV in 2011-12 and had since developed into a key player at the Eindhoven side, making over 100 appearances in all competitions.
The attacker currently leads the Eredivisie goal scoring charts with 21 goals in 28 appearances.