The 34-year-old former Celtic and Wigan forward rejected a one-year extension to his Hull City contract and chose to move back to Scotland, preferring the Dons over Hibs.
Although he was born in Malaysia, Maloney was brought up in Aberdeen, playing for Kincorth Boys' Club then Culter Boys' Club then Albion Boys' Club before signing for Celtic as a trainee.
His signing is expected to be announced when the transfer window officially opens on 1 July,