Centre-back Rose missed much of last season due to a knee ligament injury and his absence proved key as Valenciennes shipped 65 goals on their way to relegation from Ligue 1.
Financially troubled Valenciennes won an appeal to have their administrative relegation from Ligue 2 to the fourth tier reversed earlier this week.
But Rose will not play a part in their quest to return to the top flight and is set to join a Lyon side that finished fifth in Ligue 1 last term, missing out on UEFA Champions League qualification.
Rose is poised to become Lyon's first signing of the transfer window as new coach Hubert Fournier looks to build on the work of predecessor Remi Garde.
The terms of the 22-year-old's contract have yet to be finalised, with a medical examination set for Tuesday.
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