Capped 23 times by the Super Eagles with five goals, he was part of Nigeria’s African Nations-winning squad last year but did not travel to Brazil for the World Cup.
The fee will eclipse the £6m spent on Stephane Sessegnon last year in what is a statement of intent from the Midlands club after their narrow escape from relegation.
Ideye will link up with his new team mates when they return from their pre-season training camp in the United States.
Meanwhile, the Baggies have also agreed a fee with Derby for wantaway midfielder George Thorne believed to be in the region of £2m.
The Baggies had already knocked back two bids for the 21-year-old.
The midfielder starred for the Rams while on loan last season and recently had a transfer request turned down by Albion.
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