Chelsea fullback Wallace will leave Vitesse Arnhem at the end of the season.
The young Brazilian joined Vitesse this season on-loan and management will not seek to extend his stay next term.
Wallace, formerly of Fluminense, joined Chelsea in 2013 and was immediately loaned to Inter Milan last season.
This term, the 20 year-old has been in and out of the Vitesse first team, with his progress hindered by a broken hand suffered in October.