"Cabinet will meet at 2pm (1400 GMT) tomorrow (Wednesday) to consider the draft agreement the negotiating teams have reached in Brussels, and to decide on next steps", Downing Street said in a statement.
With under five months until Britain leaves the European Union, talks have stalled over a disagreement on the so-called Northern Irish backstop, an insurance policy to ensure there will be no return to a hard border on the island of Ireland if a future trading relationship is not agreed in time. The EU capitals reportedly would like to have some time to examine any agreement made between the European Commission and the United Kingdom before it is published.
Officials have said for weeks that agreement on divorce terms and a framework for future U.K. -EU relations was 95 percent complete, and for several days negotiators have been meeting late into the night in Brussels in a bid to close the remaining gaps.
The crucial cabinet meeting is set to take place on Wednesday afternoon, when ministers will be able to examine the 400-page withdrawal agreement in more detail.
According to some reports, though the "backstop" applies to the whole of the United Kingdom, it would have deeper implications for Northern Ireland, which could end up with different customs and trade regulations than the rest of the UK.
It also provides for a 21-month transition after Brexit, during which London would follow European Union rules while both sides negotiate a new trade relationship. Labour has said it will oppose any agreement which fails to support jobs and the economy and leader Jeremy Corbyn has already said the draft "is unlikely to be a good deal for the country".
Finally, after months of procrastination, the government and parliament are reaching the point where choices about Brexit that ministers and MPs have been avoiding since the summer of 2016 can no longer be put off.
Lawmakers say they will vote against the deal.
The main obstacle to an agreement has been the question of the Irish border, which will be the UK's only land frontier with the remaining European Union after Brexit.
May's political opponents predicted some Cabinet ministers may resign rather than back the deal.
Ministers are heading to Downing Street on Tuesday night for individual talks and to run through the text of the new agreement.
The Northern Irish DUP, which supports the minority Conservative government, is reported to be "absolutely furious" about the deal, considering it a surrender of sovereignty.
Brexit will pitch the world's fifth largest economy into the unknown and many fear it will help to divide the West as it grapples with both the unconventional presidency of Donald Trump and growing assertiveness from Russian Federation and China.
Her coalition partners from Northern Ireland's Democratic Unionist Party (DUP) have also threatened to vote against the agreement if they find it splinters the province from the rest of Britain.
He added: "We object to that on constitutional grounds that our laws would be made in Brussels, not in Westminster or Belfast".