Hamburg SV have terminated his contract to allow the attacker to make the move.
He was originally scheduled to join Real Salt Lake at the end of the Bundesliga 2 season, but he has now been released early in time to meet up with his new teammates ahead of the upcoming MLS season.
On Tuesday, local outlet Hamburger Morgenpost reported that Wood will first travel to Copenhagen in Denmark where his wife his due to give birth to their second daughter.
The attacker will then head to the United States and join Real Salt Lake ahead of their season opener against Minnesota United FC on April 25.
However, despite being one of the big earners at Hamburg SV, Wood struggled for form for several seasons, dropping down the pecking order until reviving his career this term.
In total, he appeared in 80 competitive matches for the club, scoring 13 goals and has made 16 Bundesliga 2 appearances this season.
His goal in a 3-2 defeat to bottom club Wurzburger Kickers in late February was his first for the club since April 2018 when Hamburg still played in the Bundesliga.
Capped 45 times for the United States, Wood has not been part of the squad since a 1-0 defeat against Italy in November 2018.