The 47-year-old Australian looks to have beaten fellow candidates Adrian Lam, Jason Demetriou and Brad Arthur in the race to take charge of the Chiefs when they enter the competition in 2028.
Peters has become one of the most sought-after coaches in world rugby league amid an inspirational stint with English Super League side Hull KR.
AAP understands Peters has agreed to terms while a contract has yet to be formally signed.Â
English media had also reported overnight Thursday (AEDT) Peters had told his players he would be stepping down at the end of the season to take the Chiefs role.
His likely acquisition would allow the NRL's forthcoming 19th team to begin building their inaugural roster for 2028, though they can currently only target players whose contracts expire after 2026.
Tanah Boyd, Billy Walters, Toby Rudolf, Connor Tracey and Tyrell Sloan are among the stars in that category, while newly-minted try-scoring record-holder Alex Johnston has flagged interest in playing for the team.
A journeyman halfback of the 1990s and 2000s at teams such as South Sydney and St George Illawarra, Peters has found enormous success since taking the reins at English Super League battlers Hull KR in 2023.
He guided the club to their first grand final of the Super League era in 2024, before winning both the Challenge Cup and Super League title last year.
Peters led Hull KR to victory over NRL premiers Brisbane in the 2026 World Club Challenge.
His coaching resume also includes stints as an assistant at NRL sides Manly, South Sydney and Newcastle.
The Chiefs' impending entry into the NRL is considered a landmark step for rugby league's growth in PNG, where the sport already enjoys fanatical support.
The Australian government is tipping in $600 million over 10 years to prop the team up, with the PNG ministry securing housing for players and staff.
Earlier this month, the Australian Rugby League Commission confirmed players and staff would be based at 67 newly constructed units on the grounds of the Airways resort in Port Moresby from November 2027.
Players and staff will enjoy tax-free salaries in an attempt to lure Antipodean talent to the project, which is seen as a method for the Australian government to strengthen ties in the Pacific.
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