The duo have been pictured undergoing medicals a the Turksih side in recent days.
Malouda, 33, and defender Bosingwa, 30, will join the club as free agents.
Malouda was released by the Blues at the end of last season, while QPR announced on Sunday that Bosingwa had left the club by mutual consent.
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.