Reports in van't Schip's native Holland claim he will be announced as Greek National team coach as early as this week with the Greece Football Association confident he is the man to turn around their fortunes after a rocky start to Euro 2020 qualifying.
Greece has been searching for a new coach since Angelos Anastasiadis was sacked earlier this month only nine months after taking over the top job.
55-year-old van't Schip was coach of Melbourne Heart in their inaugural A-League season before taking over the reigns of Mexican giants Chivas Guadalajara in 2012.
Van't Schip returned to Australia in 2013 as technical director for the newly renamed Melbourne City before going on to coach the side for another three seasons.
His most recent coaching gig was with Dutch Eredivisie outfit PEC Zwolle where he once again teamed up with Valkanis who had also been his assistant at Melbourne City.
He has been without a club since being sacked by Zwolle in december.
Greece's next match is a Euro 2020 qualifier against Finland on September 5.
