Ivan is in London for a checkup.
The 33-year-old, who can play as a wing-back and a forward, is set to sign a two-year contract with the club.
When his deal at Saints ends, Fraser will sign for Spurs, as he has already completed his medical exams.
The Croatia international, who scored in the World Cup final, has been at Inter since 2015. He won the title in his first season as head coach of Spurs and then went on to win the title in his second season as head coach.
After talks with the managing director of football on Friday, it's clear that Antonio Conte will be at the club next season.
Spurs want to back the Italian in the transfer market and have told him to sign at least six or seven players.
Goalie, centre back, wing-back, centralMidfielder and strikers are some of the positions that Spurs plan to strengthen. After bringing him back into the fold, Conte put him at left wing-back.
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It is not often that Spurs make investments in players over 30 but on a free transfer.
He is a good way of showing support for the manager early in the window, because he is someone Antonio Conte wants, having worked with him before at Inter Milan.
It makes sense from a football perspective. Right at the top of the game is Perisic. He is a winner. He won the title with the Italian club in 2021.
Despite his age, he is still at the top of his game and can offer a threat from a variety of positions. Heung-Min Son and Dejan Kulusevski are both in the forward positions and he can provide cover for them.
Conte wants to add experienced heads to his squad to get Spurs competing on all fronts next season and he will get that with the addition of Perisic.
Sky Sports News reporter Paul Gilmour.
Following the news that Spurs put in 150 million of equity funds into the club, the club are clearly backing Antonio Conte in the transfer market this summer.
They will target several positions including goalkeeper, centre back, wing-back, centralMidfielder and a strikers. There could be as many as six or seven players. They will need to find the right balance. There is an issue in this area.
Conte wants more depth in the squad, and he also wants to add experienced players, a shift from recent times when Spurs targeted younger players.
There are some at the club who feel that it is inaccurate, but there is an acknowledgement that they didn't always get the right recruits.
Fabio Paratici can do no wrong at the club. The addition of Dejan Kulusevski has given belief that they are finally getting it right in this area.
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Homework is being done on player ability and character. Spurs recently rejected the chance to sign a talented player from the premier league because of their research that he could be a disruptive influence.
Gary Neville heaped praise on head coach Antonio Conte for delivering the playoffs for Spurs.
We were at the North London Derby 10 days ago, and even if it had been a different result, I still think Antonio Conte would have stayed because of what he experienced that night. Where are you going to get the competitive atmosphere in Europe? You are not.
He has done a great job at Spurs, he has been assisted by the fall of Manchester United, but he was always going to do a great job. He isn't the right manager for Manchester United but he is still a great manager.
The others have got Tuchel, Conte, Klopp and Guardiola, they all win trophies. They can eat you alive with their presence and aura. The rest have a long way to go.
The transfer window opens on June 10 and closes at 11pm on September 1.
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.
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