Aogo spent the first half of the current season on loan at Schalke, making 16 appearances in all competitions before tearing his anterior cruciate ligament in training in November.
Despite the injury, Schalke announced on their official website on Sunday that they had agreed to bring the 27-year-old to the club from Hamburg on a permanent basis.
Aogo is set to sign a three-year deal, with the added option of an extra year should it suit both parties.
Schalke general manager Horst Heldt revealed within the statement that the deal was all but signed.
"Between all parties involved are the details clarified, it only lacks the signatures," he said.
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