The feature was first announced at Apple's April Spring Loaded event, although the original May launch was delayed to ensure the tech giant could "deliver the best experience for creators and listeners".
According to The Verge, the company has emailed podcasters confirming the introducing of subscriptions and channels next week.
The feature will let listeners subscribe to shows or networks - rather than a blanket subscription - and enjoy early access, ad-free content and a range of other perks.
This means pricing - and what you get for your money - will vary depending on each podcast.
Meanwhile, Apple previously apologised to users for redesigning the Podcasts app with iOS 14.5, and revealed plans to address the issues with 14.6.