“Real Madrid and Manchester United have reached an agreement for the loan of Javier Hernandez, who will be tied to the club for this season” the Spanish club said in a statement.
“Real Madrid reserves the option to buy the player.”
Hernandez becomes Real’s fourth signing of the transfer window after the arrivals of World Cup stars James Rodriguez, Toni Kroos and Keylor Navas and will be paraded at the Santiago Bernabeu on Monday afternoon.
The 26-year-old scored 59 goals in 152 appearances for United over the past four seasons, but had fallen down the pecking order at Old Trafford even before the English side reportedly sealed a sensational loan deal for Colombian hitman Radamel Falcao on Monday.
He is expected to provide cover for first-choice centre forward Karim Benzema after the departure of the Frenchman’s previous understudy Alvaro Morata to Juventus in June.
However, there has been widespread discontent in the Spanish media at the lack of a replacement for midfielders Angel di Maria and Xabi Alonso, who were sold to Manchester United and Bayern Munich respectively last week.
Madrid suffered a shock 4-2 defeat on Sunday away at Real Sociedad having blown an early 2-0 lead with both coach Carlo Ancelotti and captain Iker Casillas questioning the players’ attitude.
Hernandez was a revelation in his first season in England as he scored 20 times in 45 appearances as United won the Premier League for a 19th time.
However, after a quieter second season he found starting opportunities hard to come by as United splashed out to pair Netherlands captain Robin van Persie with Wayne Rooney in attack.