The 27-year-old Montenegro captain Jovetic, who had a spell on loan at Sevilla last season from Inter Milan, is set to take the number 10 shirt worn up to now by Kylian Mbappe.
Mbappe is expected to complete a move to Paris Saint-Germain, initially on loan, before the transfer window closes on Thursday.
Monaco have not yet made an official announcement on the deal for Jovetic, who has also played for Fiorentina and Manchester City.
Sources close to the principality club also revealed that Dendoncker, 22, will join from Anderlecht, following the path taken by his compatriot Youri Tielemans earlier this summer.
Dendoncker’s agent, who also represents Tielemans, met with representatives of Monaco and Anderlecht at a hotel in the principality last Thursday, the day of the draw for the Champions League group stage.
Earlier reports indicated that Monaco would pay 21 million euros ($25.2 million), not including bonuses, for Dendoncker. However, that fee would be lowered if Soualiho Meite moved in the other direction.
Midfielder Meite was bought by Monaco earlier this summer from another Belgian club, Zulte Waregem, for eight million euros.
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