"Real Madrid and Roma have reached an agreement over the signing of Antonio Cassano," Real said on their website.
"The 23-year-old Italian international will sign for the club until 2010 pending a medical examination which will be carried out on Wednesday.
"He will be presented to the media at the (Bernabeu) stadium at 1200 GMT."
Spanish media reported that Real had paid around 5.5 million euros ($6.54 million) for Cassano who had been embroiled in a dispute with the Italian club over his contract which was due to expire at the end of the season.
The Italian, who has a reputation as a difficult character, cost Roma $28.5 million when he signed from Bari in 2001.
"I've always dreamed of playing in the strongest team in the world and now that dream has come true," he told Real's website.
"Playing for Real Madrid is so important that I'm approaching it with a mixture of delight and responsibility."
The striker added that he was confident he would be able to help the nine-times European champions end their two-year trophy drought and win some silverware this season.
"I'm the sort of player that likes to be a leader when I play and I like to transmit my feelings to the people ... I'm convinced that we are going to play well and that we can aspire to win everything."
FOLLOWING PANUCCI
Cassano, who is expected to be paid a net salary of in excess of 4 million euros a year, is only the second Italian to sign for Real. He follows in the footsteps of defender Christian Panucci who played for the club between 1997 and 1999.
The striker is the 11th new player to join Real in the last year and a half and brings the club's total expenditure during that period to over 155 million euros ($183.5 million).
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Real sold England striker Michael Owen to Newcastle United at the start of the present campaign and club captain Raul is expected to be out of action for at least two more months after sustaining a serious knee injury in November.
First-choice striker Ronaldo has been plagued by a series of injury problems and has only played 12 of his side's 17 league matches and has yet to make an appearance in the Champions League.
HIGH-PROFILE ROWS
New recruit Cassano has had a series of high-profile rows during his time at Roma, clashing with former bosses Fabio Capello and Luigi Del Neri before falling out with the club's general manager Rosella Sensi in October.
The striker also refused to play for the Italian under-21 side after falling out with coach Claudio Gentile although it did not prevent him making the full national team.
Part of the Italy side at Euro 2004, he has been capped eight times and scored three goals.
Azzurri coach Marcello Lippi has frequently expressed his admiration for the striker's abilities but says he wants him to be playing regular football before he can be taken to the World Cup.
Partly as a result of his contract dispute with Roma, Cassano has made only five Serie A appearances this season. He scored 11 goals for the club last term and 14 during the previous campaign.
Although he played for Roma in the UEFA Cup this season he will be eligible to play for Real in the Champions League after a change in regulations by European soccer's governing body.
Cassano is the second player to join Real during the January transfer window, his signing coming less than a week after Brazil right back Cicinho completed a move from Sao Paulo.
Real are in fifth place in the Primera Liga, 11 points adrift of leaders Barcelona, and face Arsenal in the last 16 of the Champions League.
(Additional reporting by Simon Evans)
