Hughes has agreed a deal to take over Stephen Ireland’s contract from Aston Villa, and once that move is finalised, the Stoke chief will complete a loan for City’s 21-year-old Swedish forward.
Premier League clubs may only have two loans from the division at any one time, and Stoke already have Ireland as well as Oussama Assaidi from Liverpool.
Guidetti has been one of the most in-demand loan signings of the transfer window, with West Ham, Real Betis and Malaga among the clubs keen to sign him.
The deal will represent a major coup for Hughes, who is keen to strengthen his squad this month.
Hughes saw his side slip to a 5-3 defeat at home to Liverpool yesterday, a result that leaves them in 12th place in the Premier League, although just four points above the drop zone.
Guidetti scored 20 goals in 23 games while on loan at Feyenoord during the 2011-12 season, however injuries and a debilitating virus in his leg have ruled him out of action for over a year.