The 22 year old Coventry City player is out of contract and looking for a move from The Ricoh.
Gunnarsson’s agent Jerry de Koning said: “There are many clubs who want to sign Aron and Cardiff City are among the favourites.
“Nothing has been finalised yet, but a deal should be completed within the next 24 to 48 hours. The main factor to be finalised is a compensation payment to Coventry City.
“Cardiff City have a good chance of signing Aron.”
Gunnarsson would command a compensation fee becuase he is under 24 and has been with Coventry for a number of years.
de Koning continued: “Coventry offered Aron a new deal, but that didn’t meet with what we think he is worth.
“There has been a lot of interest from big clubs in big leagues. A lot of clubs in the Championship enquired, one or two in the Premiership plus some in Germany and Holland. “We have been weighing up our options.”