The Netherlands international is desperate to re-launch his career at his boyhood club after struggling for form and consistency in the past 18 months
The attacker reached an agreement over the termination of his contract with the Bundesliga side on Thursday, and will sign a one-year deal with Ajax upon completion of his medical.
"Some people will see my one-year deal with Ajax as a step back after spells with Liverpool and Hoffenheim, but that's not how I see it," Babel was quoted as saying by De Telegraaf.
"This is a step in the right direction again for me after a very difficult period. This is my chance to get my career back on track, and I'm determined to grab that chance."
The 25-year-old Babel came through the ranks of the Ajax youth academy, but left the Amsterdam giants for Liverpool in the summer of 2007.