The former Ajax star had been struggling to get regular game time at AC Milan, and will now continue his career in the Premier League under former boss Martin Jol
The Netherlands international, who will undergo his medical on Wednesday, has lost his starting berth with the Rossoneri in recent months, and is therefore keen to move on in order to get regular first-team action elsewhere.
"I will move to Fulham on loan until the end of the season," the versatile midfielder told De Telegraaf.
The 26-year-old will be reunited with Martin Jol at his new club, having previously worked with his compatriot at Ajax.
"We worked together quite well at Ajax and I am happy that he is willing to give me this chance. Martin has a lot of faith in me and I need that," he continued.
"I lost my starting berth at Milan from out of nowhere and that has hit me pretty hard. The last two months were quite difficult for me. It's crucial to get regular playing time at my age."
Emanuelson joined Milan from Ajax in January 2011, and had since made 51 Serie A appearances, scoring three goals in the process.