The deal to sign Jota is expected to be completed this week.
After initially joining on a loan, the young man wants to stay at the Scottish champion.
Jota played a key part in Celtic winning the league and League Cup as he contributed 27 goals across all competition.
For a more accessible video player, please use the chrome browser.
Celtic are in talks with Benfica this week, with an option-to- buy clause already agreed. A significant future sell-on percentage will be added to the deal.
Sky Sports is hosted by Sahil Jaidka.
Celtic fans are desperate for the Portuguese star to join the club on a permanent deal after such an impressive loan spell.
The winger has shown he has an eye for goal and his pace, skill and movement has been a real handful for defences to deal with.
If you score 13 goals and make 14 assists in your first season at a new club, you will give supporters hope that there is more to come once Jota has a full pre-season under him.
The fans have every right to be excited for what is to come, as the deadline day arrival has bought into the Celtic approach of being relentless with the ball and without it.
Ko Itakura and Taylor Harwood-Bellis are being watched by Celtic.
Regardless of whether or not Cameron Carter-Vickers makes his loan from Spurs permanent, the Hoops are looking to bolster their defensive options with a left-back and another centre-back.
Harwood-Bellis is an England U21 international and spent last year in the Championship atStoke City.
Last summer, Celtic looked at Itakura, who is currently with the German team.
The German club have an option to buy the Japan international, but they are struggling to pay the agreed fee.
At this time, no contact has been made between the Scottish champion and the players.
Celtic have a good relationship with the City Football Group and have brought in a number of players from Man City in the past.
Mark Lawwell, the head of scouting and recruitment at Man City, joined Celtic in a similar role, after arriving from Yokohama F Marinos.
While talks are ongoing with Spurs for Carter-Vickers, it is believed the Hoops are on the lookout for an additional centre-back with Christopher Jullien uncertain.
Celtic are looking at a number of options for left-back this summer.
Talks have taken place with Mohanad Jeahze, but they have not gone any further.
When the transfer window opens on June 10 and closes at midnight on September 1 in Scotland, who will be moving?
Sky Sports has a dedicated Transfer Centre blog where you can keep up-to-date with all the latest transfer news. Sky Sports News has the ins, outs and analysis.