Espanyol have reached an agreement with Real Zaragoza and Stuttgart to bring Ewerthon to the club on loan for the rest of the season.
The 26-year-old Brazil international had been on loan at Stuttgart from Zaragoza, but he is now set to join Espanyol until the end of the season, after which he is due to return to Zaragoza.
Ewerthon is scheduled to take his medical with Espanyol on Tuesday morning, and if all goes well will be unveiled by his new club.
However, one stipulation of Ewerthon's loan deal is that he will not be able to face Zaragoza when they play Espanyol in the league later this season.
Espanyol had been on the search for a striker after captain and top scorer Raul Tamudo broke his arm during training last week - an injury that is set to keep the Spain international out for two months.
Espanyol's capture of Ewerthon appears to end any reports of a move for Manchester City's Georgios Samaras.