The winger is currently a free agent after being released by Wigan Athletic at the end of last season.
The Frenchman only joined the English club in January, but he has been let go after his short-term deal came to an end.
But, according to France Football, Obertan's time in the footballing wilderness will be short lived as Levski Sofia are set to sign him.
The Bulgarian club are in advanced talks with the 28-year-old and a deal should be completed any day now.
Obertan is expected to put pen to paper on a two-year contract with Levski Sofia.