Widespread reports in Spain claim Villa have agreed a fee with Sevilla for the left-back and that Luna is due for talks and a medical at Villa this week.
Luna spent last season on loan at Mallorca, but could not help the club avoid relegation from La Liga.
Villa boss Paul Lambert is keen to bolster his defensive options with Eric Lichaj having left Villa Park earlier this summer.
Luna will become Villa's fourth signing of a busy summer with Lambert having already snapped up Jores Okore, Aleksandar Tonev and Leandro Bacuna this month.
They are also on the verge of signing Denmark forward Nicklas Helenius.