The A-League strugglers announced on Thursday they had agreed an undisclosed fee for the 25-year-old, the move subject to Taggart passing a medical.
The switch comes less than 12 months after Taggart joined the Roar on a three-year deal from Perth Glory in May 2018.
It's unknown where Taggart is heading but reports earlier in the week had indicated a top-tier Korean club had made an offer for his services.
Taggart has been one of the bright sparks in an underwhelming season for the Roar, scoring 11 goals in 18 appearances.
Only Sydney FC's Englishman Adam Le Fondre (12) has more goals in the A-League this season.
Despite Taggart's importance to the Roar, they have obviously decided to cash in on him.
"Adam has been a good servant for Brisbane Roar since his arrival and we wish him well with the next step in his career," chief executive David Pourre said.
Taggart, who battled injury for the past two seasons before he linked up with the Roar, wished the club the best for the future.
"I'd like to take this opportunity to thank the club, players, coaches and fans for their support during my time at BRFC," Taggart said.
"I'm confident that the club can turn things around and have more success in the future."
Taggart's departure means the Roar head west for this weekend's clash with league leaders Perth shorn of another experienced player.
Spanish midfielder Alex Lopez is suspended after he picking up his fifth booking of the season in the 2-1 win over Sydney last Friday, while goalkeeper Jamie Young is also unavailable despite successfully reducing his ban for a red card against Adelaide United from three matches to two in a disciplinary hearing on Wednesday night.
Defender Jack Hingert is also unavailable after he suffered a season-ending knee injury in the shock win over the Sky Blues while Luke DeVere is in doubt as he recovers from a knee complaint.
Young New Zealand defender Dane Ingham and Daniel Bowles will return from suspension.
