Sanish publication 'AS' reports that Valencia are closing in on a move for the 26-year-old who has failed to set the Premier League alight since his move from Villarreal in January 2015.
The Brazilian is expected to arrive in Spain in the coming hours to undergo a medical and finalise a deal.
Valencia boss Marcelino will thus reinforce his back line and will do it with little risk, having worked with the player during his time in charge of Villarreal.
Gabriel made 27 appearances in all competitions last season for Arsene Wenger's side but it appears that he has also made his last.