Kansas State officials flew to Texas on Sunday to discuss the job with Tang, sources said.
Tang is considered one of the premier assistant coaches in the country, spending the past 19 years at Baylor alongside head coach Scott Drew.
During Tang's time in Waco, the Bears have undergone one of the biggest turnarounds in college sports history, with Drew taking over a program mired in scandal in 2003. The rebuilding effort paid off last season, as Baylor advanced to its first Final Four since 1950 and won the program's first national championship.
Baylor has been to five Sweet 16s since 2010, including three Elite Eights and last season's title run. The Bears are one of the most successful programs in the country over the past three seasons, winning 81 games, two Big 12 regular-season titles and earning a 1-seed in each of the past two seasons.
Prior to his time at Baylor, Tang was the head coach at Heritage Christian Academy (Texas) for 10 seasons.
Tang will replace Bruce Weber, who resigned from his position earlier this month. Weber had been the head coach in Manhattan for 10 seasons, leading Kansas State to five NCAA tournaments and an Elite Eight appearance in 2018. The Wildcats went just 34-58 over the past three seasons.