The Blues confirmed their spot in the new wildcard round of finals by drawing with the Western Bulldogs on Sunday, completing their extraordinary turnaround in fortunes under Fraser.
The Blues were 1-8 when Michael Voss was sacked and Fraser took the reins in May, and the interim coach has overseen 10 wins, a draw and just one loss to save Carlton's season.
Carlton's board met on Monday morning and ratified the decision to appoint Fraser, who officially threw his hat in the ring and presented for the job last week.
Fraser's appointment is expected to be officially announced as soon as Tuesday.
A press conference surely would have happened on Monday afternoon, had news not emerged that day that Sydney Swans players were being investigated over an alleged sexual assault.
Fraser's appointment seemed an inevitability since it became clear Carlton's form wasn't just a new-coach bounce, but the product of tactical and personnel changes and all-round improvement under the 44-year-old.
Fremantle's Jaymie Graham, St Kilda's Corey Enright and Geelong's James Kelly - all current assistant coaches - interviewed for the role, along with Hawthorn's head of development Daniel Giansiracusa.
But they were all realistically up against it once Fraser - who initially said he didn't want the full-time job - got the Blues rolling.
With Sunday's draw, Carlton (46 points) eliminated St Kilda (40) and GWS (40) from wildcard contention with a week to go, and sit 10th behind the Bulldogs (50).
It means the Blues will be in this year's new-look finals system and can use next Saturday's clash with ladder leaders Fremantle as a dress rehearsal - and now a victory lap for their new coach.
A win over the Dockers, if the Bulldogs lose, would send Carlton ninth and tee up a tantalising wildcard match-up with arch-rivals Collingwood, otherwise the 10th-placed Blues will face the team that finishes seventh.
Fraser, who played 200 games with Collingwood and 18 at Gold Coast, began his coaching career with the Suns' state league side.
He then coached Carlton and Collingwood at VFL level, before returning to the Blues as an assistant to Voss this season.