Chancellor George Osborne is reportedly set to hand Greater Manchester councils £6bn ($9bn) a year of health spending as part of the government's devolution plan.
The Treasury would transfer the NHS cash to 10 north west local authorities from April under the plan.
The move would see the establishment of a board to take decisions for the region and will give councils powers over NHS staff, regulation and data sharing, according to the Manchester Evening News.
The plan is lauded as "ground-breaking" and "unprecedented" in a document seen by the paper.
The proposal follows the government's announcing that it is to invest more than £7bn in the north of England to create a "Northern Powerhouse".
The plan includes options, costs and a delivery timetable for a HS3 east-west rail connection, with an interim report in March 2015.
Osborne, as part of his 2014 Autumn Statement, also committed to a "transformative" package of more than £6bn of investment in the northern road network.
Cities including Sheffield, Newcastle, Hull, Sunderland, Leeds, Manchester and Liverpool will benefit from the investment. Osborne has also revealed that Greater Manchester will get a new directly elected Mayor.
The Treasury said other city areas have since come forward with devolution proposals, which are being discussed.
The Treasury had not responded to a request for comment at the time of publication.