Atletico Madrid have agreed a deal to bring Brazil international Diego back to the club.
Diego, who helped Atletico win the Europa League during his previous spell in Spain during the 2011/12 season, is to return to the Rojiblancos until the end of the season, subject to a successful medical.
The 28-year-old playmaker recently said he was committed to staying with Wolfsburg until his contract with the Bundesliga club ran out in the summer, but he was unable to turn down the chance to go back to Madrid.
He said on clubatleticodemadrid.com: "I feel very excited. I'm returning to team where I felt fantastically well. I'm only thinking about getting to work to help the team continue winning."
Atletico are currently joint top of the Primera Division, through to the semi-finals of the Copa del Rey and in the last 16 of the Champions League, and Diego insisted he knew the team were heading for big things when he was last at the club.
"It was a matter of time before Atletico reached where they are. I already saw the potential of the team and the club when I was here," he said.