Sackey, who starts for the Barbarians against England at Twickenham on Saturday, scored six tries in 20 appearances for the Top 14 outfit.
But Toulon decided to cut short the 31-year-old's contract by a year with president as owner Mourad Boudjellal declared he had not matched expectations.
"The deal is near enough done, but I don't want to jump the gun," said Sackey, who departed Wasps last summer.
"I can't disclose whether it will be back in England, but it should be done in the next couple of days."
Sackey is adamant he enjoyed his time at Toulon, but is sceptical over his chances of adding to his 22 England caps.
"I scored a couple of tries for the Barbarians last year, but it didn't make a difference to England. I'm not counting on anything," he said.
"I just want to enjoy my rugby. I love England, I always want them to do well, but not this weekend because I'm playing against them.
"I want to enjoy my last couple of years back playing and get that enjoyment back without having any worries or stresses.
"It wasn't tough in Toulon, I had a few family issues earlier on but then I loved it and I have some really good friends there.
"I have no regrets and I really enjoyed the last few months. It was a good decision for me."
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