The striker played for OL in their 1-0 win over Grasshoppers in the Champions League third qualifying round on Tuesday night but the club announced on Thursday morning that he is now set to leave the Stade Gerland for personal reasons.
A statement on www.olweb.fr read: "Olympique Lyonnais have agreed to the request made to President Jean-Michel Aulas in late May and again in late July by Lisandro Lopez to allow him to leave the club for personal reasons during the summer transfer window."
The statement continued: "Lisandro has been allowed, after qualifying against the club Grasshopper Zurich, to visit Qatar where he is finalising the terms of any contract with the club Al-Gharafa and taking a medical.
"Lisandro will be present on Saturday night at the home match against OGC Nice."
Lisandro joined Lyon from Porto in 2009 and has scored 81 goals in 166 appearances for Les Gones.
In a post on the club's verified Twitter account on Thursday morning, coach Remi Garde said: "I am sad to lose a man like Lisandro. His departure is important but it must be respected."