Oric, who led Muslim forces in Bosnia's east during its 1992-1995 civil war, was arrested on June 10 in Geneva, accused of war crimes and crimes against humanity against ethnic Serbs during the conflict.
His arrest sparked outrage in Bosnia and threatened relations with Belgrade -- but Switzerland has decided to send Oric to his home country, where he also faces war crimes allegations.
"The Federal Office of Justice today approved the extradition of Naser Oric to Bosnia and Herzegovina," the Swiss government said in a statement, adding that the date of his handover would not be made public for security and privacy reasons.
He had opposed extradition to Serbia, forcing Swiss authorities to ask Belgrade to submit a formal extradition request, which was received on June 22.
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But in the meantime, Bosnia requested that he be sent there to face criminal proceedings for war crimes against the civilian population -- something the 48-year-old agreed to at a hearing today.
His agreement allowed the Swiss justice ministry to "approve the extradition immediately in simplified proceedings," it said.
It also justified its decision to send him to Bosnia instead of Serbia with criteria in the European Convention on Extradition, pointing out that "the same criminal acts on which both requests are based were committed in Bosnia and Herzegovina," and that Oric is a Bosnian citizen.