Fidalgo joins with injury concerns at Betis over midfield pair Isco and Giovani Lo Celso.
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The 28-year-old has signed a contract until 2030 and will arrive tomorrow to join Manuel Pellegrini's squad as soon as possible.
His transfer fee is estimated at around €2m.
The Asturian player played for Oviedo and Sporting Gijón before joining Real Madrid 's youth academy.
After a brief spell at Castellón, Santiago Solari decided to sign him for Club América in Mexico, where he has played for the last five seasons.