City have already confirmed Willy Caballero will leave the club as Guardiola prepares to build a squad for the next season.
A deal for the 23-year-old is complicated with claims of third-party ownership which need to be resolved, with his economic rights shared between Benfica, former club Rio Ave and Gestifute.
In Monday's Record, published late on Sunday, aside from celebrating Benfica's cup final victory, it's explained Ederson will arrive in Manchester today for his medical, and the player himself is quoted as saying: "I still don't know, but probably this was my last game with the Benfica shirt".
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The reported £45m fee would make him world football's most expensive goalkeeper should he sign with Gianluigi Buffon at present the holder of that accolade.
Benfica coach Rui Vitoria also expects Ederson to be sold, saying: 'If Ederson leaves, he leaves with the gratitude of Benfica.
If the Brazilian can approach anywhere near the level the legendary Juve goalkeeper, who plays in what may be his last Champions League final next weekend, has risen to he will have had a successful career.
Ederson's arrival would solve a major headache for Guardiola, who loaned out Joe Hart to Torino before signing Claudio Bravo, who has struggled massively to adapt to the Premier League. Instated as No.1, Ederson made 25 league appearances, 34 in all competitions, and added the Taca de Portugal to another title success.