According to Ghanasoccernet, the 33-year-old veteran was offered the deal on Thursday night after a successful one-week trial with the club.
Muntari is set to meet his advisers before signing the deal which would see him link up with former teammate Clarence Seedorf, who has recently taken up the coaching reins at Deportivo.
Muntari is a free agent and can be signed outside of a transfer window. He has been without a club since leaving Italian side Pescara at the end of last season.
He has played in three World Cups and two Africa Cup of Nations, as well as being on the books of Udinese, Portsmouth, Internazionale, Sunderland, AC Milan and Al Ittihad in his club career.
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