The 22-year-old winger, who under Chinese transfer regulations must get the permission of his former club, leaves for Germany on Saturday, local media reported.
"We are delighted to announce that our player Hao Junmin has formally submitted a transfer deal with Schalke 04, which is now under procedure," read a statement on Teda's website.
"We have been fully supportive and cooperating to make it happen," it continued.
Hao would be the third Chinese player to play in German top flight, following Yang Chen, who played for Eintracht Frankfurt from 1998 to 2002 and Shao Jiayi, who joined 1860 Munich in 2002 and moved to Energie Cottbus in 2006.
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