A formal announcement is due on Thursday, said the report after a Wednesday board meeting to finalise the decision.
A move by Unilever, the second-biggest public company by value in the Netherlands and third-biggest in Britain, would be a blow to the British government as it prepares for next year's exit from the European Union.
Unilever has held talks with the governments of both countries in the run-up to its decision.
It said last year that collapsing into a single entity would benefit the company and shareholders, partly by facilitating big-ticket M&A deals, but it delayed a decision on location amid heightened political sensitivity caused by Brexit.
In recent months, speculation about it choosing the Netherlands grew louder following the proposal of a tax change by Dutch Prime Minister Mark Rutte, himself a Unilever veteran, seen as benefiting Anglo-Dutch multinationals.
Since the 1930 merger of the Dutch margarine producer Margarine Unie and the British soap maker Lever Brothers, Unilever has operated with two parent companies - a British Plc headquartered in London and a Dutch NV based in Rotterdam.
Though run as one company, the distinct legal entities have different shareholders, separate stock listings and annual meetings and are subject to different laws and corporate governance requirements.
It was unclear whether the company's UK-listed shares would continue to be part of the bluechip FTSE 100 index.
Some analysts point out that Dutch takeover law is more protective and speculate that a Dutch-headquartered Unilever could more easily fend off unwelcome suitors in the future.
Unilever itself has said the change is about simplification, arguing a single entity would be more agile as it could more easily issue equity for large acquisitions or spin off unwanted businesses.
(Reporting by Rahul B in Bengaluru and Martinne Geller in LONDON; Editing by Arun Koyyur and Keith Weir)
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