The 33 year-old striker has completed a medical examination ahead of his much-anticipated move to Bayern Munich, Bild reports.
Pizarro, whose contract with Werder Bremen expires at the end of June, is expected to put pen to paper on a one-year contract when he returns from Peru in June.
He enjoyed a successful spell at Bayern between 2001 and 2007, helping the Champions League beaten finalists to the Cup and League double in 2003, 2005 and 2006.
Moreover, he holds the Bundesliga record for most goals by a foreign player, having found the net 160 times in 333 matches.
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