Celtic are returning from a pre-season training camp in Austria and Switzerland.
Former Benfica winger Costa will complete a permanent switch to Elland Road next summer, the Sky Bet Championship club said.
The 18-year-old scored seven goals last season.
The 24-year-old left the Austrian club’s training base on Wednesday morning to conclude the deal.
The former Manchester City midfielder recently dismissed reports he had retired to move into coaching.
Cocu is poised to become Derby’s seventh manager in four years.
The Spain international is out of contract at the end of next season.
A peak audience of 11.7million tuned in to watch the match as England lost 2-1 to the United States.
The Lionesses had a goal ruled out by VAR and an 84th-minute penalty saved against the USA.
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