Scholz’s SPD, the Greens and pro-business Free Democrats (FDP) will reveal their coalition agreement in Berlin at 3:00 p.m local time (9:00 a.m ET), the FDP said in a statement earlier Wednesday.
One final round of negotiation talks is expected to take place Wednesday, ahead of a press conference later in the afternoon.
Once the deal is announced, it will go to members of the wider party for consideration.
The three coalition parties are not traditional bedfellows. The FDP is more usually aligned with the center-right, rather than the left-leaning SPD and Greens.
Until now, one sticking point in coalition talks has been funding for the Greens’ ambitious climate plans, with the Free Democrats opposed to raising taxes.