Kevin Gameiro is set to join Valencia from Atletico Madrid after the two clubs reached a deal on Sunday.
Gameiro, 31, will move for €16 million, according to multiple reports, and is expected to undergo a medical and sign a contract on Monday before a formal presentation.
He became surplus to requirements at Atletico after they signed Nikola Kalinic from AC Milan last week, but the transfer was held up as the teams negotiated terms.
Gameiro, who moved to Atletico from Sevilla in 2016 for a reported €27m, scored 11 goals in 36 games in all competitions last season.
His role in the team diminished after January, however, when Diego Costa rejoined the club.
Gameiro is the second striker Valencia have picked up in the last three days after they added Belgium international Michy Batshuayi on loan from Chelsea on Friday.
Valencia are also close to finalising a deal for Paris Saint-Germain winger Goncalo Guedes, sources have told ESPN FC, after he spent last season on loan at the club.