The Vikings would play outdoors on the university's Minneapolis campus in 2014 and 2015 while the NFL team's new stadium is built on the site of the Metrodome.
The deal requires approval from the university's Board of Regents. The agreement goes before the regents' Facilities and Operations Committee on Thursday, with the full board scheduled to act Friday.
University spokesman Chuck Tombarge and Vikings Vice President Lester Bagley say no details will be released until a briefing Thursday.
A letter of intent last May set a tentative deal for the Vikings to pay the school $3 million a season for up to four years, plus revenue sharing.