Kevin Keegan’s Newcastle had emerged as surprise bidders for the Senegal international.
But the former African Footballer of the Year is close to joining Roy Keane at Sunderland.
Diouf, who only returned to pre-season training with Wanderers last Tuesday, didn’t play in Bolton’s friendlies at Rochdale on Friday or Saturday’s 1-0 defeat at Macclesfield.
It’s believed he was at the Stadium of Light for a medical before completing his move later this week.
The former Liverpool striker has been with Bolton for four seasons and still has 12 months left on his current contract.
Diouf claims he wants a fresh challenge and insisted Italian and Spanish sides were interested in signing him.
Sunderland are thought to have offered £2.5m for the maverick but talented player.
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