Megson is on a shortlist of two with Joe Royle to succeed Phil Parkinson at the KC Stadium, although caretaker boss Phil Brown still has a chance of landing the job after guiding the Tigers to a 4-1 win over Cardiff City at the weekend.
Hull chairman Adam Pearson said: "The selection process is finished and I am down to two candidates, with Phil Brown as a potential third.
"He is in the frame and he will try and force himself into a permanent position."