Former Portsmouth boss Avram Grant is favourite to succeed Gianfranco Zola at Upton Park.
In a statement on their official website, the club said: “West Ham United will make a formal announcement of the club’s new manager within the next 24 hours.
“The club have been conducting a thorough recruitment programme in recent weeks and made excellent progress after considering a number of candidates.
“The squad are set to report back for pre-season training on Monday 5 July, meaning the new manager will have plenty of time to put together his squad for the 2010/11 campaign.
“With the aim to build on the proven international talent in the ranks and exciting youngsters coming through, the club expect a number of new signings to be made over the coming weeks.”