Spearing held talks and underwent a medical at Bolton on Thursday after they agreed an undisclosed fee with Liverpool for the midfielder.
Terms have been agreed and Spearing is poised to ink a four-year deal to rejoin the Trotters after a successful spell on loan at the Reebok Stadium last season.
Spearing came through the ranks at Liverpool, but has been allowed to leave by Reds boss Brendan Rodgers as he is well down the pecking order at Anfield.
Bolton boss Dougie Freedman had made Spearing one of his top targets of the summer and the midfielder could go straight into the squad for this weekend's clash with Reading.
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