The Beijing News has stated that once the deal was signed off from China's sport ministry it would be officially announced by the Chinese Football Association.
The coach, who took Ghana to the last 16 at the World Cup held two days of meetings with officials last week.
"During the meeting, Dujkovic was confirmed (as coach)," Wei Shaohui, director of the CFA's Olympic affairs office, told the paper.
"Because his contract has not yet been settled and his appointment not yet reported to the General Administration of Sports, the decision has not been announced," Wei said.
Apart from Ghana, Dujkovic, 60 has also coached the national teams of Venezuela, Myanmar and Rwanda.
The search for a foreign coach has been a long one for the CFA, who had previously baulked at the price of potential prospects like former English managers Sven Goran Eriksson and Howard Wilkinson and Frenchman Jacques Santini, but the relatively cheap price of Dujkovic was said to have swung Chinese officials.
The Olympic soccer competition will start on August 6 2008, two days before the Games' opening ceremony.