Spanish newspaper El Mundo Deportivo claims that Valdes is 99 per cent certain to sign for Monaco - and the deal could be announced as early as January.
Valdes' contract with Barcelona expires at the end of the season, and the Spain international has been linked to the Premier League with Chelsea and Arsenal reportedly interested.
He's allowed to discuss terms over a free transfer from January onwards, but it appears he's set to join the big-spending Ligue 1 giants.
Barcelona want to keep Valdes at the club, but he's resolved to leaving and is set to link up with former-Barca teammate Eric Abidal in the principality.
The Nou Camp giants will look to replace the Spaniard, with several Premier League stoppers reportedly on their radar.
Arsenal were believed to be interested in Valdes, with the club's goalkeeping situation unsettled. Wojciech Szczesny has been number one for the past three seasons, but he's failed to establish himself as undisputed first-choice at the Emirates Stadium.