The Potters have shaken hands with their Bundesliga counterparts on an agreement that would see 25-year-old Germany international Wollscheid switch for the rest of the season.
“It is a deal that is likely to happen and we are likely to see him here early next week I would suggest,” said Hughes, quoted on stokecityfc.com on Sunday evening.
“He has superb quality and in my opinion he is a very good footballer, so we are very pleased to have agreed the terms of the deal.
“He has moved for decent money in the past and he has played for the reigning world champions, so he has real good pedigree.”
Speaking more generally about January transfer window plans in his post-match press conference after Stoke’s 3-1 FA Cup win over Wrexham, Hughes added: “In terms of spending huge amounts of money, we don’t anticipate that is going to happen in January.
“We will just see what is out there. If something makes sense, and we think it will help us, we will pursue it if we’ve got the means to.”
With regard to potential outgoings, Tony Pulis taking over as West Brom head coach has prompted talk of the former Stoke boss trying to lure some of Hughes’ players to the Hawthorns this month.
Among those is striker Peter Crouch, who Pulis signed for Stoke in 2011 and is currently on a contract with them that runs out in the summer.
The Potters are looking to keep Crouch on, but reports have suggested contract negotiations have stalled between the two parties.
When asked about the tall frontman being linked with Albion, Hughes said: “There is an obvious connection, so people do the sums and two and two make five.
“There is a willingness from our point of view in that we want to make Peter happy that he is content here for the next two or three years, or however long it is that his future is with us.
“Those are the conversations we are going to have with him and it’s up to us to make sure we get something in front of Peter that he is happy with.”