The Spanish club announced that the Scot had agreed a deal until the summer of 2016, but it became clear on Tuesday evening that the former Manchester United manager had not yet signed the contract.
Moyes had been considering Sociedad's offer for some time and, according to Sky Sports' Spanish football expert Guillem Balague, was pressed for a decision with second-choice Pepe Mel waiting in the wings.
Balague told Sky Sports News HQ: "I'm so excited about this. He's one of the top British managers and he's actually going to go to La Liga, to a team he can improve.
"The interesting thing is Real Sociedad have not accepted no for an answer. They insisted they wanted him to be the man and received very good reports. It's not a decision that's been taken lightly at all."
Moyes joins a club third from bottom in La Liga following a poor start to the season that cost Jagoba Arrasate his job.
But Sociedad were in the Champions League as recently as last season, when they were drawn in the same group as Moyes' United, who won at Old Trafford and drew in Spain.
The San Sebastian-based club have a history of appointing British managers, and Moyes is following in the footsteps of Welshmen John Toshack and Chris Coleman.
Balague said: "It's a club with some Britishness about it - the first foreigner to play for them was John Aldridge and Chris Coleman was also there. The area is also 'British' in the eyes of the rest of Spain - it rains a lot!"
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