The 33-year-old will cost £12million and be included as part of a swap deal involving Marcos Alonso, who moves in the opposite direction.
Aubameyang will fly out to London this afternoon in order to sign and complete his medical, with Alonso travelling from Madrid to Catalonia to complete his own switch.
Chelsea have long had an agreement over personal terms, with the former Arsenal captain set to pen a two-year contract that will include the option for an extra season.
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Unfortunately, Aubameyang will have to wait at least three weeks to make his Chelsea debut due to a broken jaw.
The injury was sustained when armed robbers attacked the forward in front of his family during a terrifying home robbery at his home near Barcelona on Monday.
Chelsea have reviewed Aubameyang’s medical records after the attack and were happy to continue with the deal.
The Gabon striker will be allowed to train at Cobham but his return to competitive action will be delayed to ensure the healing process is smooth.
This latest signing will take the spending of the new Boehly-Clearlake owners beyond £250m, which is both a British and club record for a single transfer window.
Any further business would see Chelsea smash the world record for transfer outlays in a single summer which was set by Real Madrid in 2019.
Aubameyang will join Raheem Sterling, Kalidou Koulibaly, Marc Cucurella, Wesley Fofana and a host of other academy signings in making the move to Stamford Bridge.
Chelsea are also trying to sign a midfielder before tonight’s transfer deadline, with Ajax’s Edson Alvarez subject of a £40m bid on Wednesday night.