The 32-year-old Brazil international is expected to sign a short-term deal at the club where he began his career.

The termination of his contract at Al-Hilal was considered the biggest step, according to sources close to Neymar.

It ends an injury-hit spell in Saudi Arabia, where he played just seven times for the club he joined in a £77.6m deal in August 2023.

The attacker made two appearances this season, most recently a substitute in November.

Al Hilal said: “The club expresses its thanks and appreciation to Neymar for what he has provided at Al-Hilal, and wish the player success in his career.”

Major League Soccer club Chicago Fire also attempted to bring Neymar to the United States but he turned them down in favour of returning to Santos.

Fire had Neymar on their ‘discovery list’, meaning they were the only MLS team able to negotiate with him in the US.

Inter Miami had also been linked with reuniting Neymar with his former Barcelona team-mates Lionel Messi and Luis Suarez.

Neymar remains the world’s most expensive footballer after his £200m move to Paris St-Germain in 2017.

Neymar had around seven months remaining on his contract, having joined Al-Hilal on a two-year deal with a reported wage of 150m euros (£129.2m) a year.

He joined claiming he wanted to “write new sporting history” but had a prolonged spell on the sidelines after rupturing his anterior cruciate ligament during Brazil’s World Cup qualifier against Uruguay in October 2023.

He returned in October last year and although he played down an apparent hamstring issue in his second match back, he has not featured since.

Neymar came through the famed youth system at Santos, where he scored 136 goals in 225 games, before a high-profile move to Barcelona in 2013.

He made 186 appearances across four seasons in Spain, winning two La Liga titles, the Champions League and the Club World Cup before his world-record move to PSG as a 25-year-old.

In Paris he won five league titles prior to his move to Saudi Arabia.

Shortly after the move he overtook Pele to become Brazil’s all-time leading male goalscorer with 78 goals, but has not played for his country since his initial knee injury in 2023.