Morales is under contract at the Estadio Ciutat de Valencia until 2023, with an 12-month extension clause, but he looks certain to move on following their La Liga relegation last month.
The 34-year-old led the fight to keep them in the top-flight in 2022, with 13 league goals and seven assists, in his eighth season in the first team.
Hasta pronto, Levante UD 💙♥️ https://t.co/aI1BTI2G8E
— Jose Morales (@jose1987morales) June 17, 2022
Due to his existing contract with the club, Levante will receive a fee for him, as they seek a vital financial injection, to ease the incoming relegation burden.
Villarreal are set to pay around £3.5m to bring him to the Estadio de la Ceramica on a two-year deal.