The Ballon d’Or-winning striker, who joined the Spanish giants from Lyon in 2009, will depart on a free transfer when the season ends.
Benzema, who had a year left on his contract, is set to move to Saudi Arabia after receiving a “record offer” from Al-Ittihad.
Thirty five-years-old Benzema, won five Champions Leagues and four La Liga titles with Madrid.
Saudi state-run Al Ekhbariya television station reported today that Benzema will sign a two-year deal with Al-Ittihad.
