The Portuguese club announced on Friday that the buyout clause had been met, clearing the way for Matos to take charge at the Swans.
He is poised to sign a four-year contract and is expected to be joined by his backroom team — Diogo Medeiros, Toze Mendes and Goncalo Ricca — once he finalises his switch from the Liga Portugal 2 side.
Matos is also likely to be in attendance when Swansea face Bristol City on Saturday.
The 37-year-old had quickly risen to the top of Swansea’s shortlist after their attempt to recruit Kim Hellberg fell through, with the Hammarby head coach instead heading towards a move to Middlesbrough.
Swansea turned their attention to Matos, who only took charge of Marítimo in June but has made a swift impression in his debut senior management role.
Marítimo confirmed his exit in a statement posted on Instagram, saying: "Coach Vitor Matos will leave CS Marítimo to take charge of Swansea City, after the club activated a €1 million (£881,900) release clause on Friday.
"The green-and-red club expresses its sincerest gratitude for the professionalism, dedication, and contribution he made during his time serving Marítimo.
"We wish Vitor Matos the greatest personal and professional success for his future."
Before stepping into senior management, Matos built his reputation behind the scenes at elite academies.
He worked within Porto’s youth system before moving to Liverpool in 2019, where he served as elite development coach under Jürgen Klopp.
His remit centred on bridging the gap between the academy and first team, assisting in preparations and supporting both senior and under-23 squads.
He remained at Anfield for five years until departing with Klopp and Pep Lijnders in 2024.
Matos then followed Lijnders to Red Bull Salzburg as his assistant, but their partnership was cut short after six months when the Austrian club dismissed the coaching duo.
He resurfaced at Marítimo in the summer of 2025, guiding them to third place in the second tier with six wins from their opening 11 league fixtures.
Swansea have acted following the dismissal of Alan Sheehan on 11 November, after a run of one victory in seven matches left them 18th in the Championship.
Darren O’Dea, Sheehan’s former assistant, continues to lead the team on an interim basis and will take charge this weekend.
