Chambers has not made a single appearance in the Premier League this season under manager Unai Emery and is set to drop down a division to join West Brom.
The 29-year-old was told he was free to leave this month by Emery and West Brom are now in talks to land the defender.
It would see Chambers make a short trip from Villa Park to the Hawthorns as he looks to revitalise his career following a period of exile.
The Baggies are chasing promotion to the Premier League this season and find themselves fifth in the Championship.
Chambers played for Arsenal from 2014 to 2022, though two seasons were spent on loan at Middlesbrough and Fulham.
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Emery said earlier this month: "Some players can leave, for example two players, Bertrand Traore and Calum Chambers, and in case that situation happens we can think to add one or two players in the squad.
"The players we have now, we want to help and support right now."
Chambers himself was a January signing at Villa in 2022 when he made a shock switch from Arsenal worth £3million.
In his early days at the club, he scored a belting goal against Leeds United in a 3-0 win at Elland Road in March of the same year.
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That would turn out to be his only goal at the club while he went on to make 11 appearances for Villa that season and a further 17 the following campaign.
The defender's appearances seriously dwindled under Emery, though, who brought in Pau Torres to bolster his backline while the return of Diego Carlos from injury also further limited his game-time.
A move to West Brom will see Chambers play in the second tier for the first time in his career, having played in the Premier League throughout his career.
Chambers came up through the esteemed academy at Southampton where he had a breakthrough campaign in 2013/14 before moving to Arsenal of that summer.
While he made 36 appearances in all competitions in his first season at the Emirates, he was soon sidelined and never become more than surplus to requirements at the club until his permanent departure in 2022.