The Barclays Premier League club confirmed the deal on their website on Ftiday evening, adding that the deal was subject to the relevant paperwork being completed.
The 24-year-old has scored 82 goals in 188 appearances for Vitesse Arnhem, FC Utrecht and Sporting and has won one senior cap for Holland.
Norwich manager Chris Hughton told the club's official website: "Ricky's profile is a perfect fit for us - he's young, ambitious and a proven goalscorer.
"He has an excellent goalscoring pedigree and he's a young man very keen to continue his personal progression and to play in England. He's already an exciting talent but he still has more development as a player ahead of him.
"I'm delighted we've been able to agree a deal with Sporting Lisbon and with Ricky and we look forward to welcoming him to the squad in July, once all of the paperwork gets sorted out."
Van Wolfswinkel started his career with Vitesse, joining the Arnhem club's youth academy in 1999 at the age of 10.
He made his senior debut in 2008 and went on to net eight goals in 35 appearances before switching to Utrecht the following year.
Thirty-five goals over two campaigns for Utrecht earned the 6ft 2in forward a 5.1million euros move in June 2011 to Sporting, where he notched 25 times last term and so far has 14 to his name this season.
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