The deal is contingent on Moreau passing a physical on Monday.
Moreau, who will turn 36 next month, is a 15-year veteran of the NHL. He played 37 games last season for the Columbus Blue Jackets, for whom he had one goal and five assists while serving as the team's alternate captain.
Moreau's best season came in 2003-04, when he produced 20 goals and 32 points in 81 games for the Edmonton Oilers. Moreau was also a member of the 2005-06 team that advanced to the Stanley Cup finals. He was named captain of the team the following season and stayed with the organization until June 2010.
In 2009, he was awarded the King Clancy Memorial Trophy for best exemplifying leadership qualities on and off the ice.
Dan Arritt covers the Kings for ESPNLosAngeles.com.