Jackson's wife, Sandi Jackson, has also agreed to plead guilty to a related charge of filing false tax returns, according to her attorneys. She resigned her seat on the Chicago city council last month.
Both Jacksons, once considered one of the most powerful couples in the city, issued statements accepting responsibility.
"I offer no excuses for my conduct and I fully accept my responsibility for the improper decisions and mistakes I have made," said Jesse Jackson Jr, a Democrat, in his statement. He faces fraud and conspiracy charges.
Jackson's wife said in a statement that she was "deeply sorry" for her actions.
