Mitch Cleary from AFL.com.au reports the ruckman completed a medical with the Eagles and has been offered a multi-year deal.
The Eagles are searching for a replacement for Scott Lycett who is expected to move to Port Adelaide during the trade period.
Hickey will compete with Nick Naitanui and Nathan Vardy for a place in the senior side if he is at the Eagles next season.
Naitanui is set to miss the 2019 season as he continues to recover from an ACL injury, meaning Hickey could be given plenty of game time.
The Eagles prefer to play with two ruckman and have used Lycett and Vardy as a duo since Naitanui suffered a season-ending ACL injury in round 17.
Hickey remains contracted to St Kilda for 2019, but is believed to be interested in a move to revitalise his career.
The 27-year-old played 13 games this season and 79 in his eight year career.
Hickey was originally recruited by the Gold Coast Suns and moved to the Saints in 2013.
Hickey is one of a number of ruckman on the move during the off-season.