The 19-year-old striker has been on the radar of several top clubs in Europe with both German giants Dortmund and Bayern Munich interested in him.
The Czech Republic international has also been watched by clubs in the Premier League with Arsenal amongst his admirers.
The Gunners have put his name on their shortlist of forwards targets but Hlozek has already decided on his next club.
According to German broadcaster Sport1, the teenage striker is on his way to joining Bayer Leverkusen in the upcoming transfer window.
Leverkusen have reached an agreement over a fee with Sparta Prague, who are set to receive a fee of €22m.
Personal terms have also been agreed and Hlozek is on the verge of joining the Bundesliga outfit in the coming window.
The striker has other options on his table but he has decided to move to Leverkusen this summer.
The forward has 12 goals and 15 assists to his name in all competitions this season for Sparta Prague.
He already has 14 international caps to his name with the Czech Republic and has scored once for his country.