The attorneys of reputed underworld boss Ze'ev Rosenstein and U.S. prosecutors are expected to announce on Friday that they will sign a plea bargain on drug trafficking charges Rosenstein faces.

Under the agreement between the parties, set to be signed Tuesday, Rosenstein will serve 12 years in an Israeli prison. The plea bargain will be brought before a Miami court to be ratified the same day it is signed.

According to Israeli sources familiar with the case, the reputed crime kingpin will plead guilty to the charge of trafficking 700,000 ecstasy pills to the United States instead of standing trial on charges of smuggling millions of pills. Rosenstein was extradited to the United States in March.

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Israel has withdrawn related charges pending here, and the parties decided that U.S. authorities would not be confiscating Rosenstein's assets, as they had requested.

Legal sources in Israel confirmed that the parties have reached an agreement in principle, but said they could still withdraw from the signing.

Israeli sources involved in the case said the deal is quite likely to be carried out, and that, pending final approval, Rosenstein is expected to return to Israel within a month.

"There are very advanced negotiations on a plea bargain, but we cannot add any further details until the agreement is presented to the court," said a spokesperson for the Justice Ministry.

Keren Nahari, one of Rosenstein's attorneys, told Haaretz that the decision to secure a plea bargain was made Thursday, following intense negotiations over the past two weeks. The talks were initiated by Rosenstein's representatives. The trial had been scheduled to begin January 22.

Nahari said Rosenstein was relieved by the impending deal.

"He is much calmer now because the uncertainty in relation to the sentence he expected to receive was very tough on him," she said.