Liverpool have triggered the £13.5m release clause in Shaqiri's contract and the move will see the winger play his football at Anfield next season.
The Reds have been long-time admirers of the Switzerland global, who underwent a medical earlier today before putting pen to paper on a five-year deal which will keep him at Anfield until 2023.
And now, according to Telegraph Reds are reported to have agreed a transfer fee for Switzerland's world cup hero, Xherden Shaqiri and the Swiss worldwide is set to undergo medical on Friday.
"I was always an admirer of his so I'm happy to reunite with him".
The 26 year old joined the club in 2015 and was signed by Mark Hughes from Italian giants Inter Milan.
The former Basel winger was once one of the most coveted wingers in Europe, but previous stints at some of Europe's biggest clubs did not go well. "So I'm really glad and happy to be here", Shaqiri told the club's official website.
"He has speed and ability, has the right amount of arrogance on the football pitch, real bravery to want the ball and influence things".
Xherdan Shaqiri is relishing the chance to get into the big time after he finally became Liverpool's third signing of the summer. I want to improve myself too, I want to be with the best and I want to win titles.
Shaqiri will become the fourth Liverpool player in the Premier League era to wear the 23 shirt.
Do you think Shaqiri will be a good signing for Liverpool?