The 22-year-old joined Spurs from boyhood club Rosario Central in the summer of 2023, but only made eight appearances, scoring one goal, during his time in North London.
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Currently on loan back with Rosario Central, Veliz has managed to rediscover some form, scoring six goals and providing one assist in his 19 games.
Now, according to Fabrizio Romano, Spurs have reached an agreement with Bahia for the transfer of Veliz.
Veliz will remain with Rozario Central until the summer and join up with Bahia in June for a reported €9 million fee plus add-ons.