Higuain, regarded as one of South America's most promising players, has agreed a 6-1/2 year contract, Radio Marca said Thursday.
The 19-year-old, who will be eligible to play for Madrid once the transfer window opens on Jan. 2, last month rejected a call-up from France. The striker was born in France of Argentine parents and moved to Argentina when he was a baby.
Higuain, who scored his final goal of the Argentine league season in last Sunday's 1-1 draw with Velez Sarsfield, is expected to be followed soon by Boca Juniors' 20-year-old midfielder Fernando Gago, reports AP.
Gago, who played in Boca's 2-1 defeat in Argentina's title playoff against Estudiantes on Wednesday, is reportedly set to join Madrid for a fee of around Ђ20 million (US$26.4 million)
Last month, Madrid signed 18-year-old Brazil left-back Marcelo from Fluminense for a reported fee of Ђ6 million (US$7.9 million).
Madrid is third in the Spanish league with 29 points, four fewer than leader and defending champion FC Barcelona.
Russia, when signing documents for the sale of Alaska to the United States, was realizing her objective benefit
Putin's official spokesman Dmitry Peskov commented on remarks in the US media about failures in launching nuclear-capable missiles in Russia