He takes over from former manager Dunga, who was sacked in the wake of a limp Copa America tournament, in which the team crashed out at the group stage.
Brazilian media announced
that the deal is done but that Tite -- real name Adenor Bacchi -- had yet to agree a salary.
Corinthians president Roberto de Andrade claims he was not consulted ahead of the appointment, Globo reported
, but confirmed that the coach, who had brought the storied Sao Paulo club two Serie A titles, the Copa Libertadores and the World Club Cup would be leaving to take on the new role with Brazil's famed "Selecao."
Besides Tite's success with Corinthians, arguably the country's biggest club, Tite has also enjoyed coaching success with Gremio and Internacional.
A popular choice who had been lobbied by the public and the CBF, Tite won the Manager of the Year award last season, while thrashing city rivals Sao Paulo 6-1 during the campaign.
Dunga sacked after poor run
Dunga's denouement came as his team lost to Peru 0-1 in Massachusetts on Sunday, sealing its departure from the centenary edition of the Copa America, which is currently being held in the U.S.
Despite thrashing minnows Haiti 7-1 earlier in the tournament, a 0-0 draw with Ecuador in Brazil's first game saw them needing at least a draw with Peru in their final group match in order to advance to the knockout rounds, but it fell short.
The Brazilian team, once the undisputed gold standard on the football pitch, is suffering an ongoing crisis and has slipped to seventh in the world rankings.
It remains the world's most decorated national team with five World Cups, but its decline has been noted over the past few years.
Brazil reached a humiliating nadir at Belo Horizonte during the 2014 World Cup two years ago -- a game that saw its disastrous exit from the tournament with a 7-1 trouncing by eventual winner, Germany.
Dunga, whose real name is Carlos Caetano Bledorn Verri, took over from Luiz Filipe Scolari following that match.
This was Dunga's second spell as coach of the national team -- he had led the team to the 2010 World Cup in South Africa, but could not advance beyond the quarter finals.
Dunga, a former midfielder, had previously been a World Cup-winning captain in 1994, as well as a runner up in the next tournament in 1998.
Corinthians coach Tite is reportedly meeting with CBF officials and is the favorite to be Dunga's replacement, according to
local press reports.
Dunga's job in the U.S. was complicated by the omission
of one of Brazil's only remaining superstars, Neymar, who is being kept in reserve for the Summer Olympics, which kick off in Rio in August.