"In a final round of talks on Tuesday evening, Raul gave (Schalke) his agreement to play for the Gelsenkirchen club for the next two years," a club statement read.

Raul, Real's all-time leading goalscorer, left the club this week to put an end to a glamorous 16-year tenure at the Bernabeu.

The 33-year-old is also Spain's all-time top scorer with 44 goals.