"Everything is clear now," Bojinov told Bulgarian Ring TV. "The two clubs reached an agreement, I also agreed personal terms and I'll only add my signature when I return to Parma next Monday.
"I wanted to stay with Parma and I've made it clear to Man City too," added the former Fiorentina and Juventus striker who scored eight goals in 30 matches for Parma last season.
"I grew up in Italy, I feel like Italian and I'm very pleased that I'll continue playing there," said the 24-year-old.
Bojinov joined City from Fiorentina in 2007 for 5.75 million pounds but his contribution was limited by injuries.
Bojinov, capped 29 times by Bulgaria, said he turned down an offer to play in the Champions League with Spanish club Sevilla.
"It always looks tempting to play in the Champions League and Sevilla said they're searching for Luis Fabiano's replacement," Bojinov said.
"But at this stage I'm really happy to be a Parma player and and in two or three years I could play in the Champions League too."
