Both players are expected to undergo medicals early next week and could feature in Wednesday's night's friendly with Celtic.
"The bottom line is that we need to have a good squad, and these two are players who are going to help us stay in the league," boss Brendan Rodgers said at Swansea's pre-season training camp in Austria. "They have both played in the Premier League before, they are both hungry to push on and they both have pace."
Lita, 26, made his name with Reading in the Premier League, while former England Under-21 man Routledge's career stalled after he was tipped for the top at Crystal Palace, when he failed to make the breakthrough at Spurs or Aston Villa.
Most recently he impressed on loan at QPR, but Newcastle have decided to cash in and spend the money elsewhere in their squad.
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