Espindola ranks seventh overall in active goal scorers in MLS regular-season games with 64 goals over 10 seasons in the league. He has 73 goals and 42 assists in 252 appearances in all competitions.
"We are thrilled to welcome Fabian to Vancouver," said Whitecaps head coach Carl Robinson. "He is a proven goal scorer in this league, always difficult to play against, and knows what it takes to win."
Espindola first joined MLS with Real Salt Lake in 2007. He spent the 2013 season with the New York Red Bulls and the past 2 1/2 seasons with D.C. United.
He has started 10 of 15 regular-season games this season, scoring four goals, and adding one assist.
Espindola began his professional career in his native country of Argentina, debuting with Primera Division giants Boca Juniors in 2005.
The deal is pending receipt of Espindola’s international transfer certificate, medical, and Canadian work permit.