This news comes just a day after it was revealed that the 30-year-old was close to joining Patrick Vieira’s side.
But a potential hurdle – agreeing a fee with Everton – has quickly been overcome with an agreement reached on Friday.
Nice will pay just €2m plus bonuses for the former Manchester United midfielder, who has made 12 league starts this season.
Schneiderlin is due in Nice at the start of the week to undergo a medical before signing a contract.
After 12 years in England, Morgan Schneiderlin is en route back to Ligue 1.