J.LO's one-year deal with AI will be worth at least $15 million PLUS bonuses - it's the same amount Britney Spears signed up to The X Factor for but just shy of the $18 million that Mariah Carey made for her one season cameo on Idol earlier this year.
Though it's less than the $20 million Lopez made on her second season at the judge's panel, the contract will dwarf the $12 million she earned for debut during season 10.
The return of the Latin superstar is expected to be announced in one to two weeks along along with a return to a three-judge panel that will include country music star Keith Urban and an as yet unsigned third member.
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As RadarOnline.com previously reported, J.LO approached FOX as she wanted to be grounded in Los Angeles and have a settled life for herself and her five-year-old twins, Max and Emme, as they prepare to go to kindergarten.
"Idol allowed her to do that," a source said.
"The twins will enter kindergarten in the Fall and stability is important for them and J.LO at this time. She's looking for possible schools for the kids in Los Angeles at the moment.
"Plus, if she's living in L.A. full-time she will be able to focus on her film career and other ventures, including her fashion business."