Trotters manager Sam Allardyce is close to ending his month-long pursuit for fresh firepower with the acquisition of Salva.
Negotiations between all parties had been ongoing this week, with Valencia happy to allow Bolton to take Salva until June.
Salva will undergo a medical on Thursday and the deal should be completed as Friday's transfer deadline closes in.
Bolton are believed to be paying é¼700,000 (£460,000) to entice Salva to The Reebok Stadium for the remainder of the campaign.
Allardyce will be hoping Salva can plunder the goals to secure Bolton's berth in The Premiership with the player himself, just looking forward to playing regular football.
"I am a professional and I want to play football," stated Salva.
"In Valencia, they have not given me opportunities so I will look for them in The Premiership."