Formal:
* Il s'approche de nous. (This is the most direct and literal translation.)
* Il vient vers nous. (This means "He comes towards us".)
Informal:
* Il nous approche. (This is a bit more colloquial.)
* Il arrive vers nous. (This means "He's coming towards us".)
You can also add a bit more detail to the sentence, depending on the situation. For example:
* Il s'approche de nous avec un sourire. (He approaches us with a smile.)
* Il vient vers nous en courant. (He's coming towards us running.)
The best translation will depend on the specific context of your sentence.