"I'm delighted to have secured Bernardo, he is a player I've been looking at for some time and I think he'll be a terrific acquisition for this football club," said City boss Stuart Pearce.
Corradi, who scored 10 Serie A goals on loan at Parma last season, added: "I hope to bring all my enthusiasm to Manchester City and I want to show everyone that I want to work hard now and during the season. I want to do well here.
“I hope to have the possibility to work well with my team. As a striker I will work hard and help the team to make a lot of goals. The important thing is the team - and by working together as one the team we will finish in a good position.”
Corradi has flown back to Italy and is hoping the paperwork will soon be completed so that he can join the City squad next week.
He is City's fifth summer signing after Paul Dickov, Didi Hamann, Ousmane Dabo and young goalkeeper Joe Hart.