The news comes as a blow to hometown club Cardiff City who were heavily linked with the forward, alongside former side Tottenham Hotspur.
The five-time Champions League winner with Real Madrid left the Spanish capital earlier in this year as a free agent, and went on to guide Wales to their first World Cup in 64 years.
Considered by many as the greatest British player of all time, Bale looks set to sign a 12 month deal with LAFC and there will be an option to extend that for another 18 months.
MLSsoccer.com claim the deal is on the brink of completion, with Bale potentially eligible to debut against rivals LA Galaxy on July 8.
Also set to make his debut in what is labelled 'El Trafico' is Juventus legend Giorgio Chiellini, who moved to MLS earlier in the window.
LAFC were only founded in 2014, but currently sit top of the Western Conference in MLS.
They also lead the Supporters' Shield with 30 points from 15 games.
Many called for 32-year-old Bale to return to Britain, either in the Premier League or the Championship.
However it appears he sees MLS as an ideal landing spot ahead of the 2022 World Cup in Qatar.
Wales are in the same group as the United States at the tournament, along with England and Iran.
At LAFC, Bale will play alongside former Arsenal star Carlos Vela who won the league's MVP award and Golden Boot with the club in 2019.
More to follow…