"Diego Forlan will arrive in Porto Alegre on Saturday," his new club said in a statement on Friday. "The player will be unveiled tomorrow."
Former Manchester United player Forlan joined Inter from Atletico Madrid a year ago and scored only two goals in 22 appearances for the Italian club.
The Serie A team, who finished sixth last season and failed to qualify for the Champions League, are set to sign Palermo defender Matias Silvestre on loan and Udinese goalkeeper Samir Handanovic on a permanent deal.
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'Andy Robertson has a decision to make as a player, where you either roll your sleeves up and give someone great competition or you accept decisions and say that your time is done.' Alan Shearer on the conundrum facing Arne Slot's Liverpool
