The 36-year-old singer - who quit the pop group in 1995 - is set to reform with his one-time bandmates for a 2011 tour and a new album.
A source said: "Everything is in place now to formally announce Robbie's return to Take That for one year only. He will announce his comeback with a public statement."
Robbie and singer Gary Barlow, 39, also plan to make light of their previous difficulties in new song 'Shame' with a music video inspired by 'Brokeback Mountain' - which tells the story of two cowboys secretly in love.
The song focuses on Robbie's feelings for the band, in particular when they reunited without him in 2005 following their break-up in 1996.
A source told The Sun newspaper: "In the song there's a line about how he went into children's shop Toys R Us and saw the four Take That dolls in a box and realised he felt left out."
The single will be included on Robbie's upcoming greatest hits album, 'In and Out of Consciousness: The Greatest Hits 1990-2010', which he plans to release early in September so he can focus on the Take That projects afterwards.
Robbie achieved huge success as a solo artist after leaving Take That but has seen his career flounder in recent years, while Gary, Howard Donald, Mark Owen and Jason Orange have had two UK number one albums, 'Beautiful World and 'The Circus', since reuniting.