Hawkins, who went 1-4 with 11 saves and a 2.13 ERA with the Astros last season, will be joining his eighth Major League team.
"[I'm] very disappointed, especially because [general manager] Ed Wade is a good man and I have the utmost respect for him," said Hawkins, who will take a physical Monday. "I just have to avoid getting hit by a bus between now and then."
The Astros renewed their pursuit of Hawkins at the Winter Meetings after closer Jose Valverde denied their offer of arbitration late Monday. Hawkins flew to Indianapolis, but he never met with the Astros' brass face-to-face, though his agent had multiples talks with Houston.
Earlier Wednesday, the Brewers signed Randy Wolf, who like Hawkins was acquired by the Astros in separate trades within eight days of each other in July 2008.
Hours after Hawkins' deal was announced Wednesday, the Astros and Florida Marlins finalized a deal that sent hard-throwing right-hander Matt Lindstrom to Houston, and the Astros are also reportedly interested in Atlanta Braves reliever Rafael Soriano.
Soriano accepted arbitration from the Braves, who are trying to deal him. He could make as much as $7.5 million in arbitration, which may be too pricey for the Astros. Lindstrom is a much cheaper option and probably won't be the Astros' only addition to the bullpen.
Lindstrom, 29, went 2-1 with a 5.89 ERA and 15 saves last season for the Marlins and is 8-8 with a 3.88 ERA and 20 saves in three years in the Majors. His fastball has been clocked as high as 102 mph.
Brian McTaggart is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.