Sampaoli, having never before coached in Europe, joined Sevilla on a two-year contract last summer as the successor to Unai Emery, who had led the club to three successive Europa League triumphs.
"All parties are satisfied by the agreement reached", said a Sevilla statement on Friday.
"My contract with the club contains clauses which allow me to leave", said the Argentine.
But after being linked with the Argentina post, it appears to have been a position the Santa Fe born coach could not turn down.
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"Sevilla FC and the Argentine Football Association (AFA) have reached a principle of agreement for the untying of coach Jorge Sampaoli as coach of the entity of Nervión to be able to exercise as coach of Argentina".
"That initial agreement is pending on the drafting and presentation of the necessary documents that must be signed by the parties on Thursday, June 1".
The former Chile coach was offered the job last August shortly after taking the helm of Sevilla but chose to remain in charge of the club.
He will replace, Edgardo Bauza who resigned last month after just eight months in charge.
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Under Sampaoli, Sevilla finished fourth in La Liga and sealed a place in Champions League qualifying for the 2017-18 campaign.
Now the 57-year old has a hard task ahead of him to win Argentina's remaining games and qualify automatically for the World cup.
Argentina's next outing is the MCG friendly against Brazil on June 9 with their next World Cup qualifier away to Uruguay on August 31.
Only the top four teams to qualify automatically for Russian Federation 2018, while the fifth-placed nation will play-off against an Oceania opponent.
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