Chris Dawes has been traded to Melbourne with the Demons having come to an agreement with Collingwood for the premiership forward.
Melbourne will give the Magpies picks 20 and 45 for Dawes, while pick 58 will be handed over to the Demons, in a deal that was completed on Tuesday night.
The paperwork for Dawes is expected to be lodged on Wednesday morning.
The 24-year-old forward, who struggled in 2012 as Collingwood coach Nathan Buckley tried to rotate him through the ruck, kicked 16 goals in 23 matches this year for career totals at the Magpies of 83 majors and 71 games.
While Dawes' stocks have fallen considerably this year, Demons coach Mark Neeld will have plenty of tall timber to put in his attacking half in 2013.
Dawes will join Mitch Clark, Jeremy Howe and, potentially, Jack Watts as key forward options for Neeld next season.
Collingwood director of football Geoff Walsh wished Dawes well at his new club.
"Chris can be proud of his contribution to Collingwood. He played some good football for the club, where he has been a popular figure, and shared in the 2010 premiership," Walsh said.
"In his time with us, Chris always gave what he had and for that we thank him. We wish him well."
The Magpies have also acquired former West Coast forward Quinten Lynch as an unrestricted free agent, while trading midfielder Sharrod Wellingham to the Eagles in exchange for pick 17 in a separate trade.
Collingwood now has picks 17, 18 and 20 in the national draft - their strongest position since 2006.