The Chicago Tribune is reporting that the Fire have succeeded in their pursuit of the German legend.
The Chicago club began chasing Schweinsteiger late last year and it is understood that he could link up with Veljko Paunovic's team as early as next week.
Schweinsteiger said in a statement: “Throughout my career, I've always sought opportunities where I hoped to make a positive impact and to help make something great.
“My move to Chicago Fire is no different. Through my conversations with Nelson and Pauno, I'm convinced by the club's vision and philosophy and I want to help them with this project."