The report states that the Istanbul Giants have agreed personal terms with the Algeria international whose contract expires in the summer.
The 26-year-old’s contract with Valencia expires at the end of the season meaning he is able to discuss personal terms with clubs and leave on a free in July.
The Istanbul giangs have already signed eight players this season including Lille defender Simon Kjaer, 2014-15 Süper Lig top scorer Fernandao, Turkish international Şener Özbayraklı and Brazil international Josef De Souza.
Feghouli has four assists and seven goals in 36 appearances for Valencia this season. The Algeria international has made 39 appearances for the Algerian national team.