The 30-year-old star flew down to London to hold crunch talks with the maker of the show, Simon Cowell, Daily Mirror reported.
The Geordie singer, who left the show in 2011, is expected to have assured the producers of 'X Factor' that she wants to make her judging panel comeback.
"Her return is now 99 per cent concluded. The meeting was a case of tying up some loose ends and things went really well. Simon and show producers are just waiting on Cheryl's confirmation. Everyone is really excited about the idea of having her back on the show," a source said.
"I am hopeful we can do something. She still has a poker face at the moment but we both need each other. She would be crazy to turn it down," he had said.
The 'Fight for This Love' singer had declined the offer to come back on the show three years ago.