The Italian forward has penned a "multi-year contract" and will be officially presented on Monday, the northern team confirmed on their website.
Brescia have announced the signing of free agent Mario Balotelli ahead of their Serie A campaign, with the striker joining on a reported three-year deal with the newly promoted outfit.
Balotelli made his debut in local team Lumezzane in Serie C as a 16-year-old, before moving to Serie A giants Inter Milan in 2007.
The Palermo-born striker will now hope to force his way back into worldwide reckoning having signed on the dotted line with Brescia, who won promotion to Italy's top flight by topping Serie B last season.
It had been reported to be a basic salary of €1.5m for one year with numerous extra bonuses and add-ons for goals scored, appearances, Italy caps and an automatic renewal in case Brescia avoid relegation.
Brescia have been promoted back to the top flight for the first time since being relegated in 2011.
He won three Serie A titles with Inter before switching to Manchester City and helping them claim the Premier League crown in 2012.
The former Liverpool and Manchester City striker was released by Marseille earlier this summer and had been linked moves to the Premier League and the MLS.