Nagelsmann requested to be relieved of his duties on Thursday following the team's early exit from the World Cup after a penalty shootout to Paraguay in the Round of 32.
Klopp, who now works as Red Bull's global head of soccer for their worldwide collection of clubs, was the immediate choice to take over as head coach in what is an incredible return.
The former Liverpool and Borussia Dortmund boss has been out of management since leaving Liverpool at the end of the 2023-24 season but he seems certain to make the switch back to the touchline.
Fabrizio Romano confirmed the deal is set in place on Sunday morning as Germany prepare to announce their new head coach.
“Breaking: Jürgen Klopp as new Germany head coach, here we go!
“Klopp has accepted to take over; long term contract details, project and RB Group exit still under discussion, but he will be the new head coach.
“RB considered Glasner as replacement but he signs at #NFFC.
“Klopp is back.”
The 59-year-old confirmed talks were underway this week and stated that he was “ready” to take the job as soon as possible despite having a contract with Red Bull currently in place.