License application goes to East Devon District Council.
Pub chain J D Wetherspoon says it has exchanged contracts to buy the former Star, in New Street.
Spokesman Eddie Gershon says the deal will be completed when Wetherspoon has secured a license to operate from the site.
Planning permission for extensive alterations and refurbishment of the pub has already been granted.
East Devon District Council is due to consider Wetherspoon’s license application this week.
“I can confirm that Wetherspoon has exchanged on the property,” Mr Gershon told the Midweek Herald.
“However, it still has to complete the deal.
“As yet, there is no opening date.”
Business leaders in Honiton have welcomed the pub chain’s interest in the Star Inn, saying Wetherspoon could revitalise an important part of Honiton’s town centre and attract a higher footfall to New Street.
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