Gerrard announced last week that he is to leave Liverpool at the end of the season when his contract expires.
The Liverpool skipper is expected to link up with former teammate Robbie Keane in the United States, who currently plays for the side. Keane spent an unsuccessful half a season at Anfield in the 2008/09 campaign before returning to Tottenham.
It emerged last week that Gerrard was going to turn down a contract offered by the club as he wanted to carry on playing on a more regular basis, as manager Brendan Rodgers was starting to manage his game time this season by leaving him out of the starting line-up to keep him as fresh as possible as the Reds look to compete on as many fronts as possible.
Gerrard confirmed in an interview last week that he would move to the United States but the discussions with LA Galaxy had not been concluded, with terms not finalised.
The contract the 34-year-old will receive is said to be worth around £4 million a year, making him among the highest earners in the competition.