The Premier League giant said an agreement had been reached with Juventus for the 36-year-old, who scored 118 goals in 292 games during his first spell at Old Trafford.
“Everyone at the club looks forward to welcoming Cristiano back to Manchester,” read a short statement from the club.
The five-time Ballon d’Or winner enjoyed six successful years at Manchester United, winning three league titles and one Champions League, before joining Real Madrid in 2009 for a then world record fee.
He is now set to reunite with former teammate Ole Gunnar Solskjaer, who praised Ronaldo earlier on Friday prior to the agreement.