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The young athlete was involved in a medical evaluation with the club on Thursday, in preparation for finalizing a five-year contract set to commence on July 1.
This arrangement signifies the highest transfer fee ever attained by a Greek club, surpassing the £16.6 million that Wolverhampton Wanderers spent to acquire Daniel Podence from Olympiakos in 2020.
If the £1.7 million add-on for Kostoulas is activated during his time at Brighton, it would establish a new record for the transfer fee paid for a Greek player, exceeding the £30.63 million Napoli paid Roma for Kostas Manolas in 2019.
The Greece Under-21 international made his debut with the first team in 2024 after progressing through the youth ranks of Olympiakos.
Kostoulas was a consistent starter during Olympiakos' triumph in the esteemed UEFA Youth League in 2024, where they defeated both Inter Milan and Bayern Munich to reach the final, ultimately triumphing over AC Milan.
Last season, the forward scored seven goals in 22 league matches.
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