The club announced an agreement in principle with Cantalapiedra, with the transfer expected to be official in the coming days.
A graduate of Barcelona’s famous La Masia, Cantalapiedra joined Twente in 2017 from Sevilla Atlético.
He scored 13 times in his first season, with his goals helping the team win promotion to the Eredivisie as champions.
Twente’s outgoing technical director Ted van Leeuwen recently admitted the Dutch club couldn’t afford to keep him.
“The reason he has not signed a new contract is purely financial,” van Leeuwen said. “He joined when the club played in the second level. That is different now.”