The move has been mooted for some time, with the Scotstoun side finally securing the versatile 31-year-old's services subject to a visa and medical. Nakarawa is due to arrive in Glasgow today to begin his second spell with the club.
He made 69 appearances during his first spell, scoring 40 points. Able to play in the second-row or back-row, Nakarawa became a fans' favourite at Scotstoun and starred in the Guiness Pro14 and Heineken Champions Cup.
The 61-cap international, who has featured at three World Cups for the Pacific islanders, won the Man of the Match award in the 2015 PRO12 final as Warriors won their first title with a 31-13 victory over Munster.
Nakarawa joined French side Racing 92 in 2016, scoring 23 tries during a three-year stint with the Parisian outfit, but was released by the Top14 club after returning late from an extended rest period after the 2019 World Cup.
Speaking to Glasgow's official website, Nakarawa said: "I’ve remained close with my ex-teammates during my time in Paris and they played a big role in my decision to come back.
“I’m really looking forward to working with Dave Rennie and the coaching staff. Glasgow Warriors play an attacking style, which suits the way I like to play.
“The pitch may be different but I can’t wait to see some familiar faces in the crowd when I run out at Scotstoun."
Warriors Head Coach Dave Rennie added: “We’re rapt to welcome Leone back to Glasgow.
“Everyone knows how dangerous he is with ball in hand and Glasgow supporters have fond memories of his previous exploits in a Warriors jersey.
“Since his move Leone has continued to develop as a player and was named the European Player of the Year for the 2017/18 season.
“He is close with a lot of the players and we’re looking forward to welcoming him back into the squad this week."
Warriors travel to Treviso on PRO14 duty this Saturday, before hosting Exeter Chiefs in the European Champions Cup on 11 January.