Pearson has agreed a three-year deal, and leaves his job as Leicester City manager. Both clubs have announced the news on their official websites and a press conference will be held tomorrow.
It is understood that he was considering his future at Leicester after leading them to the League One title in his first season and the Championship play-offs in his second, but not getting the backing to help him go further.
Conversely, Hull City's plans for the season do appeal. Even after further inevitable player sales, City's budget will be amongst the highest in the division, and the new manager will be allowed to bring in players on free transfers and loan deals.
With a year still to run on his contract, City have had to pay Leicester compensation, reportedly in the region of £350,000. The deal also brings Pearson's two assistants, first team coach Craig Shakespeare and head of recruitment Steve Walsh, to East Yorkshire.
Meanwhile, the last two men to take charge of the Tigers, Phil Brown and Iain Dowie, are being linked with the vacancy left by Pearson at Leicester.