Mexican outfit Monterrey confirm that the Liga giants are free to discuss personal terms with the striker, having met his release clause, as they aim to replace Roberto Soldado
Los Che are in the market for a centre forward following Roberto Soldado's €30m (£25.6m) move to Tottenham this summer, despite having signed Portugal international Helder Postiga earlier in August.
Miroslav Djukic's side have now moved swiftly to secure the services of Pavon for the relatively nominal sum, in order to avoid the Colombia international's buyout clause rising to €21m (£17.9m) next week.
"Earlier [on Saturday], Valencia's legal representative arrived to tell us the club would meet the clause of Dorlan Pabon, with consent from the player and his agent," Monterrey confirmed on their official website.
Pabon only arrived at the Mexican side in January 2013 but was immediately sent on loan to Real Betis, where he netted eight goals in 17 Liga appearances.
Valenica begun their La Liga campaign with a 1-0 win over Malaga on Saturday.