The Spanish side have announced that the striker will move to the Etihad Stadium, subject to a medical, and that he will say his goodbyes at specially arranged farewell gathering
Goal exclusively revealed on Tuesday that a £21.7 million plus add-ons deal had been agreed for the striker and the Spanish side have now confirmed the deal with a statement on their website.
"It's official: Alvaro Negredo is a Manchester City player, short of doing the medical tests," read the statement.
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"The Sevilla president, Jose Maria del Nido, will accompany the striker at this farewell."
Del Nido confirmed earlier on Wednesday that Negredo was set for a move to the Etihad Stadium, after previously stating there was a "one per cent" chance of him making the switch to City this summer.
"We are about to complete the sale of Negredo to City. If all goes well he will say bye this afternoon at the Sanchez Pizjuan," he told reporters.
"City are signing a great player. For Sevilla and Negredo it is a major operation. It is the contract of his life."
Goal understands that Sevilla could receive a further £2.6m in performance-related bonuses on top of the £21.7m fee paid by City up front.
Terms between the clubs were ratified on Tuesday morning and the 27-year-old is set to see his salary doubled to around £75,000-a-week.
The Spain international scored 25 goals in La Liga last season and had been linked with moves to Everton and Tottenham earlier in the summer.
Negredo will become the second player to make the switch from Sevilla to City this month, after Jesus Navas moved to the Etihad for around £18.5m.
City are also closing in on Fiorentina attacker Stevan Jovetic, after a £23.3m deal was agreed on Monday, and it is understood that an official announcement over both signings could come from the Premier League club on Saturday or Sunday.