Valencia have reached an agreement to sell their 23-year-old winger Juan Mata to English Premier League giants Chelsea, the Spanish club said on Sunday.
The deal is subject to a medical, the club added in a statement posted on its website.
"Valencia has reached an agreement in principle with Chelsea for the transfer of the player Juan Mata," the statement said.
The club gave no financial details but Spanish media said the deal was worth around 27 million euros.
Mata has long been tipped to leave Valencia, but Arsenal and Tottenham were thought to be his main pursuers.
Mata joined Valencia from Real Madrid in 2007 and has emerged as one of their most important players, his form earning him a regular place in the Spain squad.
He was a part of the party which won the 2010 World Cup in South Africa and was also a key man this summer as Spain won the Under-21 European Championship in Denmark.