Karim Benzema is set to join Real Madrid after Lyon accepted an offer of 35 million euros (£30m) plus add-ons for the France striker.
The agreed fee, which could rise to 41m euros dependent on performances, was announced on Les Gones' website.
"Several days ago Karim Benzema told club president Jean-Michel Aulas of his wish to join Madrid - who were always his preferred destination after Lyon - more quickly than originally thought," L'OM said.
"The player wanted take the opportunity offered to be one of the key players in Madrid's ambitious new policy to collect some of the biggest players in the world.
"Lyon accepted Benzema's decision and we negotiated terms that pleased all parties concerned.
"The club would like to wish Benzema the best of luck with Real Madrid and that he gets the greatest benefit from an ambitious sporting and economic package which - given the different funding, sponsorship, fan-base and stadium size - we in France cannot compete with."
Radio Cadena Ser reported he will sign a six-year contract with the Spanish giants.
Club president Florentino Perez said that their next big signing would be presented "tomorrow", Thursday July 2.
France international Benzema is Madrid's third big-money summer signing following the acquisitions of Kaka (£60m) and Cristiano Ronaldo (£80m).
He has scored 37 Ligue 1 goals in the past two seasons for Lyon, with nine in 15 Champions League matches.
Premier League champions Manchester United were linked with the player after they received full payment from Real for Ronaldo's world-record move.
Both clubs are also thought to be interested in signing Bayern Munich's French attacking midfielder Franck Ribery.
A Lyon elfogadta a Real Madrid 35 millió eurós ajánlatát Karim Benzemaért. Benzema 6 éves szerzõdést készül aláírni. Az átigazolási díj Benzema teljesítményétõl függõen akár 41 millió euróig is emelkedhet!
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