Riise has spent two seasons in West London, making 75 appearances in all competitions for Fulham.
Despite being a regular first-team fixture at Craven Cottage, the Norwegian confirmed today that Fulham boss Martin Jol has agreed to let him leave this summer for nothing.
He told PA: "Yes, it looks like I will be parting company with Fulham this summer.
"Fortunately there is an agreement for there to be no transfer fee, so let's see what the rest of the transfer window brings."
Bremen have held a long-term interest in Riise and will now begin talks with the 32-year-old over a move to Germany this weekend, according to the Daily Mail.