Shunsuke Nakamura is set to return to Japan after agreeing terms with Yokohama F Marinos.
Yokohama president Akira Kaetsu spoke to Nakamura's agent earlier in the week and both parties have come to agreement on a multi-year deal that would see the 31 year-old return to his former team.
Kaetsu did not reveal the financial details of the contract but will be in Spain this week to meet with Espanyol officials in order to finalise the transfer.
"If possible, we want to have a short period of talks. Hopefully we can wrap it up in time for the start of the J-League season on March 6," he said on Kyodo News.
Nakamura rejected the opportunity to join Yokohama last year and signed a two-year deal with Espanyol after leaving Scottish giants Celtic.
However, the midfielder struggled to adapt at his new club and spent most of the time warming the bench.
He shunned a move to link-up with former Celtic boss Gordon Strachan at MIddlesbrough in January, but he is now on his way back to his homeland.