This article will be updated with more contract details once they are released. The deal will be reviewed by the board of trustees before being finalized on Monday.
Reports stated that Campbell was chosen over Terry Smith, who was named the interim head coach after Penn State fired James Franklin during the regular season.
Penn State finished the year with a 6-6 record - their worst since 2004 (4-7).
Campbell has been the head coach at Iowa State since 2016. He led the Cyclones to an 8-4 record this season, one year removed from finishing 11-3 and a win over Miami in the Pop-Tarts Bowl.
His 11 wins with the Cyclones in 2024 were the most in program history. Now, he leaves Iowa State with a 72-55 record and three bowl wins, turning one of the worst football programs in the country into bonified winners.
However, some could call into question Campbell leaving Iowa State a year after he signed a massive contract extension that would've paid him $5 million per year through 2032.
Now, the question is what recruits who were committed to Iowa State will follow Campbell over to the Nittany Lions after it took the program eight weeks to find a new head coach.
Although some Penn State players voiced their frustrations after the university decided to pass on Smith.