Split confirmed Lustica's departure on their website on Monday, saying he was keen to continue his career in Australia and media reports have indicated Adelaide is his most likely destination.
The 22-year-old midfielder struggled for game time at Split, sent out on loan to Dugopolje and Brisbane Roar after joining in June 2011.
According to Croatian daily newspaper Slobodna Dalmacija, Adelaide are keen to lure the former Young Socceroo to Coopers Stadium.
"I'm happy to have played for Hajduk and that I have been trained by the likes of (Goran) Vucevic, (Ante) Mise, (Krasimir) Balakov, (Miso) Krsticevic, (Igor) Tudor," Lustica told the newspaper.
"Tudor was my idol...but my career has to go forward. I'm hoping to play at the World Cup in Brazil."
At Adelaide's fan forum on Monday, the club's football manager Michael Petrillo said the club would be announcing a signing in the next 24 hours.
Lustica would be a decent replacement for Dario Vidosic, who departed for Swiss club FC Sion in August.
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