The Tigers agreed the club record fee with Fulham on Thrusday and Bullard has now agreed personal terms and passed a medical at the KC Stadium.
Bullard has signed a four-and-a-half-year contract with Hull.
“We’re trying to improve a squad that has been competing in the Premier League and that just needed a bit of bolstering,” Hull boss Phil Brown told the club’s official website.
“I think this signing shows everybody just how serious Paul Duffen, Phil Brown and Hull City are with regards to this year’s Premier League.
“Jimmy is a good player, end of story.”