The Argentine forward looks likely to end his spell in Ligue 1 for "personal reasons" after the French club granted him permission to join the Qatari outfit
The 30-year-old joined Lyon from Porto in 2009, but is now ready to end his four-year spell in Ligue 1.
A statement on Lyon's official website read: "Olympique Lyonnais announces its acceptance of a request made to president Jean-Michel Aulas, at the end of the May and again in July, by Lisandro Lopez to leave the club in the summer transfer window for personal reasons.
"Lisandro was authorised to travel to Qatar yesterday evening (Wednesday), where he must finalise the terms of a potential contract with Al-Gharafa and undergo a medical prior to his engagement with his new club.
"Olympic Lyonnais will reveal the conditions of the transfer agreement as soon as it has been confirmed.
"Lisandro will be present on Saturday at the Stade de Gerland for the match agains OGC Nice."
The Argentine forward scored 81 goals during his time at Lyon.
His departure leaves Bafetimbi Gomis - whose proposed moved to Newcastle is on hold - as the French club's only senior centre forward.