Brentford have been heavily linked with a move for the 20-year-old who enjoyed a breakout season in the Netherlands, scoring seven goals and providing seven assists in his 42 games.
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According to reports from Dutch media, they have had a £17 million offer for Milambo with Christian Nørgaard set to join Arsenal any minute.
Feyenoord were understood to be keen on keeping the midfielder at the club but he made it clear he believed it was time to pursue a new challenge.
Milambo will leave his boyhood club with 60 games for the senior squad and the record as the club’s youngest ever professional debut maker.