Earlier this month, Bayern chief Karl-Heinz Rummenigge confirmed that the club were negotiating for Upamecano and added that the Blues and Reds had also made contact for the player.
In an interview with Bild, the club's sporting director Hasan Salihamidzic has now revealed that Upamecano will join the club in the summer, he told: "I can, and we are very happy about that at FC Bayern."
Upamecano's current deal has a release clause worth £38m and Bayern have reached a verbal agreement with Leipzig to trigger the sum in June.
The Frenchman has made over 125 appearances for Leipzig since joining them from sister club Red Bull Salzburg more than four years ago.
A move to Bayern will ideally suit him, given he may require less time to adapt in the same league and has the chance to win trophies.
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