According to Sky Sports, Hutton has left the Scotland training camp and is on his way to Birmingham to undergo a medical and discuss contract terms with Aston Villa.
Hutton has fallen out of favor as the first-choice right-back in the past few months because of the development of Kyle Walker, who ironically spent time on loan at Villa last season.
The move for Hutton would be a permanent one made by Alex McLeish and company in the range of £3-4 million while Jenas is a loan move.
Jenas would join Charles N'Zogbia as a new summer addition to the club in midfield.
The 28-year-old former Newcastle and Nottingham Forest midfielder has also fallen out of favor at White Hart Lane due to a crowded midfield and some injury issues.
Jenas could do the same as Kyle Walker did last season, being a Tottenham loanee enjoying success at Villa Park.
If Jenas does find success under McLeish at Villa, he could be subject to a permanent move next summer because the Spurs midfield is so crowded.
Even with a full season of impressive playing time on loan, it could be better for Jenas to stay at Villa should the move happen, to get back into the England squad and maybe even contend for an outside shot at the 2014 World Cup squad.
Aston Villa do face a late challenge from Fulham for Hutton, but all reports suggest that the Scottish defender is on his way to Birmingham.
As for Jenas, he may have to wait until the Hutton deal is done to make the move to Villa Park.