Per Nightengale, it is a seven-year deal that would make Hosmer the highest-paid player in Padres history.
Hosmer is coming off arguably his most productive campaign, as he hit a career-high .318 with 25 home runs, 94 RBI and 98 runs scored in 2017, which netted him his first Silver Slugger award.
The 2016 All-Star is also a whiz in the field with four Gold Gloves to his credit.
Hosmer also played in all 162 games last season, and he hasn't missed more than four games in a single season since 2014.
In addition to having a career batting average of .284 with 127 homers and 566 RBI, Hosmer has a history of success in the postseason. He helped the Royals to a World Series win in 2015.
The Padres went just 71-91 last season after going 68-94 in 2016. They haven't reached the playoffs since 2006, and they will largely field a young roster in 2018.
San Diego is likely still at least a couple of years away from playoff contention, but since Hosmer is just entering his prime, he could be in the midst of some peak seasons when the Padres are ready to be players in the NL West.