The Colombia international, who joined the club from Spanish side Elche in 2014, made 20 league appearances for Villa last season as they were relegated to the Championship.
Sanchez previously represented French side Valenciennes and River Plate of Montevideo and will undergo a medical in Italy on Wednesday.
The 30-year-old, who represented Colombia at the 2014 World Cup, joins fellow new signings Davide Astori, Bartlomiej Dragowski and Kevin Diks in Tuscany as Fiorentina aim to build on last season’s fifth-placed finish.
(Reporting by Ed Dove; editing by Sudipto Ganguly)
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