Negotiations between the former chancellor and Kyriakos Mitsotakis have been taking place in London since November 2021, according to Greek newspaper Ta Nea.

The museum has vowed not to “dismantle our great collection” after the paper said the talks are at an “advanced stage”. But it said it is seeking a “positive” partnership over the sculptures – 17 figures and part of a frieze that decorated the 2,500-year-old Parthenon temple at the Acropolis – that Mr Mitsotakis wants returned.

The Elgin Marbles were taken by Lord Elgin in the early 19th century when he was the British ambassador to the Ottoman Empire. They have been the subject of a long-­running dispute over where they should be housed. The Greek prime minister has called for them to be transferred many times, even offering to loan other treasures to the British Museum in exchange.

Mr Osborne said there is a “deal to be done”, and a British Museum spokesperson said: “The museum has called for a new Parthenon partnership with Greece and we will talk to anyone, including the Greek government, about how to take that forward.

“We operate within the law and we’re not going to dismantle our great collection as it tells a unique story of our common humanity. But we are seeking new positive, long-term partnerships with countries and communities around the world, and that of course includes Greece.”

The Parthenon Project, a campaign advocating the return of the Marbles, said: “With widespread support for reunification among the Greek and British public, and constructive dialogue based on mutual trust, a solution is finally within reach.”

But last night John Hayes, chairman of the Common Sense Group of Conservative MPs, said: “I’d hope the Culture Secretary would intervene to block this idea, as it has done in the past. While the Elgin Marbles have been in the UK, they have been viewed by millions from around the world every year. They are a national asset and the idea they can be repatriated through essentially private discussion is wrong.”