The 23-year-old has agreed to a four-year deal at the Allianz Arena and will join the club July 1 from fellow Bundesliga side Eintracht Frankfurt.
The midfielder, who is out of contract this summer, has long been expected to join the Bundesliga champions, with Frankfurt sporting director Bruno Hubner stating in January that the move was set to be completed.
Bayern has now confirmed that the 23-year-old will join the club July 1 after agreeing to terms at the Allianz Arena.
"I'm very pleased that this transfer has worked out," he told Bayern's official website. "Bayern is the next big step for me. I want to develop here and win a load of titles with my future teammates."
Rode, who joined Frankfurt from Kickers Offenbach for a 300,000 euro fee in the summer of 2010, has made 28 appearances in the Bundesliga, DFB-Pokal and Europa League for Armin Veh's side this season.
"Sebastian Rode is an excellent professional. He embodies the highest level of professionalism and dynamism," Bayern sporting director Matthias Sammer said. "I'm certain he will give our team plenty of momentum and enthusiasm to tackle obstacles in the future."