The English media reported this weekend the spin bowler, who has become a big hit with fans, is set to pen the deal for his first book this week.
Panesar, 24, is the first Sikh to play for the England side, and is believed to have attracted interest from 15 publishers.
Meanwhile, all 12,000 fans who had bought tickets for the final day's play in the controversial England v Pakistan Test match at London's Brit Oval today will automatically receive full refunds.
The game descended into farce yesterday after umpires accused the touring side of ball-tampering.
Meetings late last night concluded that Pakistan had forfeited the game in protest at the allegations.
The ICC says it will launch an immediate probe into the situation.
Fans atttending yesterday's play are eligible for a 40 percent refund.
