The Football Association of Wales is holding a news conference on Monday at which the 44-year-old Giggs is expected to be unveiled as the successor to Chris Coleman who quit the job in November to take charge of Sunderland.
Giggs won 64 caps between 1991 and 2007 but was unpopular with some Wales fans for missing many internationals, especially friendlies.
He ended his glittering 23-year playing career in 2014 and managed Manchester United in a caretaker role for four games at the end of the 2013-14 season after David Moyes was sacked.
Giggs was Louis van Gaal's assistant at Old Trafford for the following two seasons before leaving United in 2016 after Jose Mourinho was appointed as manager.
Coleman led Wales to the Euro 2016 semi-finals but they failed to qualify for this year's World Cup.
(Reporting by Ed Osmond; editing by Clare Fallon)
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