It is believed that both Southampton and Nice have reached an agreement for the former Juventus midfielder.
Lemina attracted interests from several Premier League clubs but has opted to end his stay at England and join Nice.
Lemina had attracted Premier League interest from both Watford and Newcastle but looks set to end his spell at St Mary’s with a move to Ligue 1.
The Gabonese midfielder joined Southampton from Juventus on a year deal for a club record fee of £15.4m.
After a successful loan spell at Fulham last season, Lemina could have secured a permanent deal had the Craven Cottage side escaped relegation.
As a result of Lemina's potential move to Nice, Newcastle's dream of signing him seems impossible despite looking for a midfielder to bolster their squad for the new season.
Lemina has also spent loan stint with Turkish giants Galatasaray.
Southampton manager Ralph Hasenhuttl would like to keep the midfielder but Lemina is unsure of more playing time, a situation that called for his move to Fulham.
And eyeing for more first team opportunities, Lemina will join Nice.
Southampton will begin their 2021-22 Premier League campaign with a game away to Everton at the Goodison Park on 14 August.
Nice in the French Ligue 1 last season finished 5th in the league log but will look to earn a Champions League spot this time around and the arrival of Lemina could be a perfect addition to the squad.