Spurs boss Harry Redknapp confirmed on Wednesday night a fee had been agreed both clubs as revealed on skysports.com for the French international.
Chimbonda has decided to leave White Hart Lane after failing to hold down a regular place in the side under Redknapp following his return to the club from Sunderland in the January transfer window.
Blackburn boss Sam Allarydce is keen to tie up a deal for Chimbonda as he looks to bolster his defensive options and the full-back is currently in talks with Rovers officials.
Chimbonda's agent, Willie McKay, has confirmed talks are underway over a three-year deal and the full-back is set to have his medical later on Thursday.
"Pascal is having his medical this afternoon and we expect everything to go successfully," McKay told skysports.com.
"Talks are underway and Blackburn are offering Pascal a three-year deal with an option and we are hopeful of getting everything done very soon."
Allardyce admits Chimbonda's versatility will provide him options in his defence.
"It is the versatility I have chosen to go with rather than look for perhaps an out-and-out left-back," said Allardyce of his decision to bring in Chimbonda.
"He has huge experience of Premier League football and he is eager and ready to get away from Tottenham because he has not played enough games for them and he just wants to play football."