The midfielder will captain France in an international friendly against Ivory Coast on August 17.
Real Madrid will seek inspiration from their former midfielder and France World Cup winner Zinedine Zidane for Tuesday's Champions League match at Ajax Amsterdam, according to Xabi Alonso.
Zinedine Zidane lamented Real Madrid's home woes as the Spanish and European champions slipped to a surprise 1-0 defeat to Real Betis on Wednesday.
The 32-year-old is expected to announce his decision officially at 1745 GMT on Thursday.
Zinedine Zidane has said he would like to return to the world of football, not sure in which role.
The France captain will be out for three weeks because of a groin strain.
Coach Zinedine Zidane learned the lessons of predecessor Rafael Benitez's disastrous tactics in the last encounter and employed defensive midfielder Casemiro in favour of more attack-minded players, opting instead to sit and wait for Barcelona.
France coach Raymond Domenech said he was not angry at Zinedine Zidane for his headbutt in the World Cup final.
The 33-year-old felt France needed to recover the team spirit of previous years if they were to be successful in Germany.
FIFA will open a disciplinary investigation into the circumstances surrounding Zinedine Zidane's head-butt on Italy's Marco Materazzi.
"Is he (Gerrard) the best in the world? He might not get the attention of (Lionel) Messi and Ronaldo but, yes, I think he just might be," Zidane was quoted as saying by the Guardian.
'Fabien made the difference and allowed us to stay 1-0 down and gave us the possibility to keep believing in our chances,' said France's captain.
FIFA president Sepp Blatter said that plans were afoot for the two players to be reunited.
'I brought up his sister and that wasn't a nice thing, that is true,' said the Italian defender.
The Frenchman, who won nine trophies in two-and-a-half years, suggested it is events off the pitch, rather than on it, that made him leave.
The award, which is based on the votes of 142 coaches of national teams, will be made at the World Player Gala in Basle on December 15.
Zinedine Zidane is taking the first steps towards possibly managing the French national team in the future by joining coaching programme at the French Football National Institute (INF).
Zidane urged fans not to expect more from Beckham than he has already shown at Manchester United.
Zinedine Zidane cast doubt on his long-term future at Real Madrid by saying he is unsure if he will be in charge of the club next season. The former midfielder was named as Rafael Benitez's successor in January when he signed a contract until June 2018. But when asked what role he would have in the Liga club's transfer dealings for next season, Zidane said he did not know if he would still be at the Bernabeu. "I can't know what role I'm going to have if I don't know if I'm going to be here. We'll see what happens at the end of the season," Zidane was quoted as saying by Spanish newspaper Marca. The 43-year-old was also asked if Madrid would make another attempt to sign David de Gea after their move for the Manchester United and Spain goalkeeper fell through on the last day of the transfer window last August.
France's World Cup winner Zinedine Zidane rebuked his compatriots on Monday for refusing to train after striker Nicolas Anelka was thrown out of the camp for insulting the coach.
The France captain's head-butt on Italy defender Marco Materazzi is the subject of a song that aims to be a holiday hit.
Real Madrid coach Zinedine Zidane has warned Liverpool that his side are as hungry as ever to win the Champions League, rejecting claims that the Spanish giants might have lost their edge ahead of Saturday's final in Kiev.
Real Madrid coach Zinedine Zidane urged his side to remain calm after their Champions League hopes suffered a setback with a shock 2-0 loss at VfL Wolfsburg in the first leg of their quarter-final tie on Wednesday.
Real Madrid reminded Olympique Lyon who they were up against in the Champions League by parading their French soccer spy Zinedine Zidane on Monday.
Marco Materazzi is taking legal action against three British newspapers over their reporting of the incident in last July's World Cup final when he clashed with Zinedine Zidane.
France playmaker Zinedine Zidane said his team is prepared for Brazil, who they meet in the quarter-finals.
Luka Modric has played almost 600 games for Real and won nearly 30 trophies including a record six Champions League titles and four LaLiga trophies.
Zidane was given a three-match ban and a 7,500 Swiss franc fine for head-butting Marco Materazzi in this month's World Cup final in Berlin.
'I said nothing to him about race, religion or politics. I did not talk about his mother either,' the Italian defender said.
Zinedine Zidane's successful seventh minute penalty for France against Italy on Sunday meant he became the fourth player to score three goals in the history of the World Cup final.
France go to the World Cup hoping the old maestro still has something left in his armoury
"It's my decision and it's final," the France and Real Madrid playmaker told French television channel Canal+.
Real Madrid coach Zinedine Zidane is happy with his squad and the club has not discussed possible reinforcements despite FIFA's decision to ban them from the next two transfer windows, he said on Saturday. FIFA announced on Thursday it had banned Real and neighbours Atletico Madrid from registering players for the next two windows for breaching rules on signing non-Spanish Under-18 players. Both clubs denied wrongdoing and said they would appeal. The list of players included at least one of Zidane's four sons, who play for various Real youth teams, although the club have not confirmed which of them were singled out by FIFA.
The defending champions will also be without Zidane's Real Madrid team mate Claude Makelele for the Confederation's Cup.
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