Jeanette Fitzsimons is expected to resign from the post at a press conference scheduled for 11am in Wellington today.
Party rules dictate the co-leaders must be a man and a woman, and media reports yesterday tipped Ms Turei as the front-runner and Sue Bradford as a possibility.
Ms Turei (39), a lawyer and former political activist, was elected to Parliament in 2002 and is ranked fourth on the Green Party list.
Contacted yesterday, she said she had no comment to make until after 11am today.
Ms Fitzsimons has previously said she will retire from politics at the next election and last year said it would be around now that she would step down as co-leader.
She has co-led the Greens since 1995.