The 29-year-old was the Spanish outfit's captain and played a key role in helping his side win the Europa League, which they achieved by coming from behind to beat Jurgen Klopp's Liverpool in May.
Coke has won three continuous Europa League trophies with Sevilla and he will now move to Germany, where he will ply his trade with Schalke. The Bundesliga club also confirmed the right-back has completed his medical, prior to his switch to Veltins-Arena.
Schalke confirmed the full-back will return to Spain as he is set to finalise his formalities with his former employer on Monday.
"Royal Blue transfer activity: Schalke 04 have confirmed a fundamental agreement with Sevilla regarding the transfer of right back Coke," a statement read on Schalke's official website.
"The skipper of last season's Europa League winners passed his medical on Sunday. On Monday, the 29-year-old, who has won Europe’s secondary club competition three times with Sevilla, will return to Spain to settle final formalities before joining the S04 squad in their training camp in Mittersill, Austria."
The fee Schalke are set to pay the Rojiblancos for the transfer of Coke is believed to be in the region of €3 million.
With Coke's departure from Ramón Sánchez Pizjuán Stadium, Sevilla has seen several changes in the ongoing summer transfer window. The La Liga outfit have already lost their coach Unai Emery to Paris Saint-Germain and was replaced by Jorge Sampaoli, who helped Chile win the Copa America in 2015.
Emery was not the only one to leave Sevilla. He was followed by midfielder Grzegorz Krychowiak to Parc des Princes this summer. The duo were followed by Kevin Gameiro, Ciro Immobile, Ever Banega, Jose Antonio Reyes and now Coke to leave the Spanish club in one single transfer window.Schal