I am in Canada using the european 6mont visa,
however I wish to study here and change my status
to a student. I know there is a form for one to change his status to student but I do not know how long that would take. My visitor visa is close to expiring and I am a bit worried / confused.

Which course do you think I should take?

Any advice would be welcome

(I am in Manitoba / Winnipeg )

You need at least 6 weeks to do this, and it may not be approved if you are from an Eastern European country. You might want to check out the list of approved countries on the website below.

Applying to Change Conditions or Extend Your Stay in Canada as a Student — IMM5552E is one of the forms you need, however you may need a TRV as well (Temporary Residents Visa) depending on where you were from. CIC are *really* clamping down on these applications because this is the busiest time of year and many applications are basically bogus. I am not suggesting yours is - but you must have a letter of acceptance from an accredited institution AND a bona fide reason for staying here to get a change in conditions approval.

http://www.cic.gc.ca/english/study/permit-who.html

No my country is not listed there, thankfully.
My country is in the EU as I mentioned.

I am expecting my Letter of Acceptance soon
from a very known university.

However my problem is that my visitor visa is soon
up,
-should I leave and re-enter the country?
-should I wait for my letter of acceptance
and send my application once I have it?
-some other option maybe?

Thank you for your quick reply