The German goalkeeper made 25 appearances for Schalke last season, and will provide Norwich with some much-needed experience ahead of their first season back in the Premier League since 2015/16.
According to Sky Sports, Fahrmann has completed his medical at Carrow Road ahead of the loan move.
Norwich will not be short of quality between the posts with Tim Krul, who recently signed a new long-term contact upon promotion to the Premier League
Although he seems to be a fan favourite at the club he has played for since 2007, Fahrmann was dropped midway through the 2018/19 season in favour of 22-year-old Alexander Nubel as
It is clear that the Canaries will need to strengthen their defence if they are to survive their first season back in the Premier League since 2016, having conceded 57 goals last season.
However, after netting 93 times last year, Daniel Farke might not be so worried about his team's ability to break through tough defences.
With Teemu Pukki's new contract keeping him at Carrow Road until 2022 alongside the signings of Patrick Roberts and Josip Drmic, Farke's side could provide some extremely entertaining football for Premier League fans next season.