Atletico Madrid have confirmed that they have agreed a fee to sell Jose Manuel Jurado to Schalke.
The Primera Liga club announced after Monday night's impressive 4-0 victory over Sporting Gijon that they had decided to let the playmaker move to Germany.
Jurado will follow Klaas-Jan Huntelaar in switching to Schalke after the Dutchman arrived at the Bundesliga title hopefuls for £10.5million from AC Milan.
No financial details of Jurado's deal have been released but reports in Spain suggest that Atletico will receive €13million (£10.6m) for the 24-year-old, who opened the scoring against Sporting at the Vicente Calderon.
An Atletico statement read: "Atletico Madrid have reached an agreement with Schalke for the transfer of Jose Manuel Jurado to the German team.
"The agreement between the two teams was closed on the night of 30th August.
"In the coming hours he will leave for Germany, where he will be presented by Schalke.
"Atletico Madrid want to thank him for his professionalism and dedication during the years he has been at the Vicente Calderon. We also wish him the best in this new stage of his career."
Jurado came up through the ranks at Real Madrid before moving across the Spanish capital to Atletico in 2006.
He spent the 2008/09 campaign on loan at Real Mallorca before returning to Atletico last season, when he helped win the Europa League and reach the final of the Copa del Rey.
Speaking after the Sporting match, Jurado said: "I know that I'm leaving my home, my friends but there are times in life when you cannot say no.
"I'm a little sad because this is my home and I've been treated very well here. I give thanks to my team-mates and all the staff at the club because they've been phenomenal with me. I hope that it will be a 'see you later' rather than goodbye.
"I hope Atletico Madrid continue like they have been doing and have lots of luck this season."