The race is on to complete last-minute signings and against-the-clock deals, as the transfer window will close in just 13 hours.
Fans are hoping for a flurry of activity at the end of what has been, in the eyes of many, a relatively quiet January window.
We’ll keep you up-to-date with the latest news and gossip until the window closes, with a morning, afternoon and evening round-up.
Our afternoon updates (from midday until 6pm) can be found here.
UPDATE 11.55AM: Derby, Wolves and Aston Villa are all keen on Simeon Jackson, Sky Sports understands.
UPDATE 11.55AM: Birmingham have rejected a bid of £1.5million, rising to £2m, plus a player for Curtis Davies from Norwich , Sky Sports says.
UPDATE 11.50AM: Swansea City are being linked with a move for teenage striker Moussa Konate.
Senegalese international Konate is being touted as a potential loan signing for Swansea as they seek to replace Danny Graham, who looks set to leave the Liberty Stadium today.
UPDATE 11.40AM: Plymouth Argyle have taken to Twitter to confirm the signing of Crystal Palace winger Jason Banton:
UPDATE 11.35AM: Nottingham Forest have this morning confirmed Dexter Blackstock has officially signed a new four-and-a-half year contract with the club after completing a medical.
UPDATE 11.35AM: Brighton are eyeing up a move for Swansea defender Alan Tate, according to Sky Sports.
UPDATE 11.30AM: Crystal Palace are expected to make a third and final attempt to land Bristol City winger Albert Adomah before tonight's transfer deadline.
The Eagles switched to other targets after having two bids for Adomah turned down in the space of four days.
But the south London club are set to make one more attempt, it is understood.
UPDATE 11.25AM: Middlesbrough are very close to completing a deal for Kieron Dyer, Sky Sports reports.
Dyer is a free agent after leaving QPR earlier this month.
Middlesbrough today missed out on signing Swansea striker Danny Graham.
UPDATE 11.20AM: Sunderland have now agreed a £5million fee with Swansea for striker Danny Graham, Sky Sports reports.
Graham is travelling to Wearside to undergo a medical and discuss personal terms.
UPDATE 11.15AM: Former England captain David Beckham is to have a medical at Paris St Germain ahead of a possible move to the Ligue 1 club, Sky Sports understands.
UPDATE 11.15AM: Bristol Rovers boss John Ward has this morning confirmed he doesn't anticipate any transfer deadline day arrivals at the Memorial Stadium.
Ward has already bolstered his squad with the arrivals of six new players since the start of January and earlier this week declared himself 'happy' with the business he had completed.
UPDATE 11.05AM: Gillingham have secured Brentford defender Leon Legge on a permanent basis.
Legge moved to Kent on loan at the beginning of January.
UPDATE 11AM: Plymouth Argyle have completed the loan signing of winger Jason Banton from Championship club Crystal Palace.
Meanwhile Argyle left-back Robbie Williams has left the club. He has had his contract terminated by mutual consent so he can seek regular first team football elsewhere.
UPDATE 10.50AM: Tottenham Hotspur midfielder Andros Townsend is undergoing a medical at QPR ahead of his proposed move, Sky Sports reports.
UPDATE 10.45AM: Stoke goalkeeper Asmir Begovic has said he will see out deadline day on the club books despite having reportedly caught the eye of Manchester United and Arsenal .
UPDATE 10.35AM: AC Milan have completed the signing of Mario Balotelli from Manchester City on a four-and-a-half-year deal.
UPDATE 10.35AM: Swansea striker Danny Graham has opted against a move back to his old club Middlesbrough , his representatives have confirmed to Sky Sports.
UPDATE 10.30AM: Stoke have agreed to bring in USA international Brek Shea from MLS side FC Dallas, but he still needs to complete a work permit.
UPDATE 10.25AM: Chris Samba has passed a medical at Queens Park Rangers .
Nottingham Forest are close to snatching George Boyd from under the noses of Crystal Palace today.
The Peterborough player will hold talks at the City Ground this morning, with a view to making a permanent return to the Reds.
Peterborough United chairman Darragh MacAnthony turned to social networking site Twitter to reveal the club had accepted bids from multiple clubs for the midfielder:
Meanwhile Kuwait goalkeeper Khaled Al-Rashidi has completed his move to Nottingham Forest. The club made the announcement last night on Twitter:
And Notts County are still eyeing up a striker, it is understood. The Magpies have been in talks with targets in the last 24 hours, but boss Keith Curle is staying tight-lipped.
Swansea City’s Danny Graham is today set to make a move, but there are conflicting reports about which club he will head to.
The Daily Mail claims he will complete a £5.5million transfer to Sunderland, but earlier this morning Sky Sports claimed a fee had been agreed with Middlesbrough.
However, Sky Sports reported at 9.49am Graham's representatives have ruled out a move to Middlesbrough.
The Swans are today set to grant Danny Graham’s wish by selling the striker to Sunderland — provided they can secure a replacement on loan.
Meanwhile Swans boss Michael Laudrup is understood to have turned his attention away from Stoke striker Kenwyne Jones after learning he wanted £50,000 a week to move to the Liberty Stadium side.
Now, Aston Villa boss Paul Lambert is said to be mulling over a bid for Jones, the Mirror reports.
Meanwhile Hungary international Jozsef Varga, who had been linked with the Swans, has signed with Greuther Furth on loan from Debrecni.
Hull City are closing in on a deal for QPR striker DJ Campbell.
City were last night in advanced talks to land their target, and it is understood the Tigers have agreed an undisclosed fee for the 31-year-old striker.
Permission has been granted to discuss a move to the KC Stadium today.
The club yesterday completed six-month loan deals for Egyptian pair Gedo and Ahmed Fathi, pending visas and work permits.
Hull yesterday had a bid rejected for Wolverhampton Wanderers striker Sylvan Ebanks-Blake.
Stoke City and Reading are keen to sign Newcastle United right-back Danny Simpson, the Independent reports. They will have to fight off competition from Wigan Athletic, however.
Stoke are also hoping to complete the £7m double signing of Jack Butland and Brek Shea today, and could also make a late move for a striker.
The Potters are hoping to beat Chelsea to the signature of Birmingham City goalkeeper Butland with a bid of around £4m.
But Sky Sports this morning reports Butland has arrived for training with Birmingham. Earlier this week the England Under-21 international turned down a move to Chelsea.
Meanwhile Port Vale expect a relatively quiet end to the transfer window.
Vale are still pursuing a couple of young players to add to their squad before today's 11pm deadline, but chairman Paul Wildes is happy with their business this month.
Vale midfielder Ryan Burge is on the radar of Peterborough United , with the club considering a late bid, Sky Sports reports. Burge is out of contract at the end of the season.
Arsenal defender Carl Jenkinson is reportedly set for a loan move to Stoke, according to the Mirror.
Potters boss Tony Pulis hopes to beat off competition from West Ham, Wigan and Fulham to bring Jenkinson to the Britannia Stadium until the end of the season.
Meanwhile Arsenal boss Arsene Wenger last night admitted a deal for Barcelona striker David Villa was a no-go.
When asked after the 2-2 draw at home to Liverpool if a deal for the striker was dead, Arsene Wenger said: "Yes."
Bristol City coach Sean O'Driscoll will almost certainly delay making any new signings until the loan window reopens on Friday February 8.
The January transfer window deadline is expected to pass without any new faces arriving at Ashton Gate.
Derby County are eyeing two or three targets in the emergency loan window which opens next week.
Leicester City striker Jeff Schlupp could be snapped up by Charlton if nothing comes of his training stint with Manchester United, with Charlton boss Chris Powell admitting he would be interested in taking the player.
Plymouth Argyle left-back Robbie Williams has left the club. He has had his contract terminated by mutual consent so he can seek regular first team football elsewhere.
Exeter boss Paul Tisdale has not ruled out making an addition to his squad before the closure of the transfer window.
The City chief has signed Myles Anderson and Mark Molesley during the window but says he would be open to making a move for a player.
He said: "I am always looking and I have always got an open mind to who might be available. We may end up selling someone and then I'll have to respond to it. So I will be as prepared as I can.”
Leicester City last night confirmed Michael Keane's loan extension until the end of the season. The club took to Twitter to make the announcement:
Swindon winger Matt Ritchie has signed with Bournemouth for an undisclosed fee.
The 23-year-old has penned a three-and-a-half year deal with the club, which saw a bid for the player rejected in December 2011.
QPR boss Harry Redknapp is hoping to bring in three Tottenham players on loan - Jermaine Jenas, Andros Townsend and remarkably David Bentley, The Sun reports.
The deals would keep all three the club until the end of the season.
Bentley was “frozen out at Tottenham by Redknapp to the extent that he eventually had to go to Russian club FC Rostov on loan to try to rescue his career”, the Independent says.
Meanwhile Anzhi Makhachkala defender Christopher Samba is set for a £100,000-a-week wage at QPR if a deal goes through. Sky Sports this morning reports a medical has been passed.
Coventry City are considering a loan move for Manchester City winger Alex Henshall, 18, according to Sky Sports.
Liverpool boss Brendan Rodgers says he is not expecting to bring back Tom Ince to Anfield before the transfer window closes, but has not ruled out a move for the 21-year-old in the future. Ince has been linked with the Reds in recent weeks.
Manchester City winger Adam Drury has seen his loan spell at Burton Albion extended for the rest of the season.