The former Raith Rovers and Dundee United manager will leave Morton second top of the SPFL Championship and head to the Falkirk Stadium with a move being finalised this afternoon.
A formal press conference was expected to be called this evening but Bairns bosses have shelved plans, though an announcement is still anticipated sooner rather than later.
McKinnon took Morton’s training this morning ahead of their match with Partick Thistle, but is now poised to replace Paul Hartley who left the Bairns bottom of the league, on Monday.
McKinnon began his managerial career at Brechin City before moving to Raith Rovers and steering the Fife side to the SPFL play-offs.
He departed Starks Park for one of the clubs he previously played for, Dundee United.
This summer he took over at Greenock Morton, replacing Jim Duffy at Cappielow.