"Al Wasl can now confirm soliciting the services of one of the greatest footballers of all time," the club said in a statement.
The deal was finalised "after lengthy negotiations held with Maradona" said the club, adding that they hoped the 50-year-old former Argentina captain would take the team to new heights.
Details of Maradona's contract would be revealed at a news conference next month when he would be introduced to the club.
"The value of the contract is worthy of the stature and reputation of the great legend," Marwan Bin Bayat, chairman of Al Wasl Football Co., said.
His spell as Argentina coach ended last July after the country's football association voted unanimously not to renew his contract following the team's 4-0 thrashing by Germany in the World Cup quarter-finals in South Africa.
