Rams head coach Steve McClaren has made a move for the England Under-21 international following an injury to first-choice keeper Lee Grant at the weekend.
The deal is expected to be finalised later on Monday, with Butland set to make his debut for Derby in their Sky Bet Championship fixture against Blackpool at Bloomfield Road on Tuesday night.
Butland is behind Asmir Begovic and Thomas Sorensen in the pecking order at Stoke and City boss Mark Hughes has been keen to get the 21-year-old out on loan.
With Grant nursing an ankle injury following the Rams' 3-0 win at Reading on Saturday, Butland will now get some valuable minutes under his belt in the second tier - as he has done during the last two seasons at Birmingham, Barnsley and more recently Leeds.
Butland joined Stoke from Birmingham in January 2013 for a fee of just over £3million
He has started three Barclays Premier League matches for the Potters.
Source : PA
Source: PA