Israel's One reports that Sainsbury is in advanced negotiations to join Maccabi Haifa - and link up with fellow Socceroo Nikita Rukavytsya - after being deemed surplus by to requirements Mark van Bommel.
The move is expected to go ahead in the coming days, with the 27-year-old to either sign a multi-year deal or be loaned out by the Dutch giants.
For Sainsbury, who has been omitted from the PSV squad for their last two outings, the move should offer additional game time ahead of the Socceroos' FIFA World Cup qualifiers.
Fellow Australia Rukavytsya - in his fourth season with Maccabi Haifa - has scored 31 goals in 102 games for the Israeli outfit and last played for the national team in March last year.
Maccabi Haifa, who finished runner-up in the Israel Premier League last year, were knocked out of the UEFA Europa League qualifying at the hands of French club Strasbourg 4-3 on aggregate earlier this month.