Mary Jane Veloso was arrested in Indonesia in 2010 carrying a suitcase lined with 2.6 kilograms (5.7 pounds) of heroin and later sentenced to death by firing squad.
The mother-of-two's case sparked an uproar in the Philippines, with her family and supporters saying she was innocent and had been set up by an international drug syndicate.
On Wednesday, Philippine President Ferdinand Marcos said she would be handed over to Manila following years of "long and difficult" negotiations.
"I am very elated to hear there is an opening chance for my hope to return home and be with my family," Veloso said in a written statement read by the prison warden Evi Loliancy on Thursday.
"I'm grateful and would like to thank everybody who keeps making efforts so I can return to my country," she said.
The 39-year-old said she would utilise skills she has learned in prison, including local cloth-dying techniques, to earn money for herself and her family.
Veloso's family maintained that she was duped into signing up for a non-existent job abroad as a domestic worker and was not aware the suitcase given to her by the recruiter contained hidden drugs.
The Philippine government won a last-minute reprieve for Veloso in 2015 after a woman suspected of recruiting her was arrested and put on trial for human trafficking in a case in which Veloso was named as a prosecution witness.
Indonesia's law and human rights minister Yusril Ihza Mahendra said President Prabowo Subianto had "approved the transfer", which is expected to happen next month.
Philippine leader Marcos on Wednesday posted a message thanking his Indonesian counterpart.
He said Veloso's "story resonates with many: a mother trapped by the grip of poverty, who made one desperate choice that altered the course of her life".
