Matthew Cryer, 17, from Killamarsh, north Derbyshire, suffered head injuries outside a bar in the beach resort of Laganas in 2008.
At the time, Greek police said he died from excessive drinking, but a UK inquest heard evidence he had been attacked and sustained 20 injuries.
Lawyers for Matthew's family have now said charges could be imminent.
His family has campaigned for justice since his death, and in 2011 police on the Greek island reopened the case.
This week, his mother Jo Froud said she had been told that prosecutors are close to charging suspects with exposure to harm.
Mrs Froud said if a prosecution went ahead, it would then be for a judge to decide whether the case should go to a trial.
"There's still a small possibility that it might not go ahead so we can't get our hopes up just yet," she said.
"We have waited for so long now. Over the years we have had to develop patience and the art of compromise.
"Matthew will always be missing from our lives and there's nothing we can do about that, but if we can get this court case and what we think is a reasonable kind of justice for him, then we can move forward."
An inquest in Chesterfield in 2009 found Matthew was unlawfully killed. A coroner said he had been dragged from inside the nightclub, attacked and allowed to fall down steep steps outside.
The coroner at the time criticised Greek authorities saying no attempts were made to find out how Matthew sustained his fatal injuries.
The family of a teenager who died while on holiday in Zante five years ago are hopeful of a breakthrough in the case.