AAP understands the Sky Blues have terminated Janjetovic's contract, nearly four weeks after the club granted him indefinite leave to deal with personal issues.

He is expected to join the Wanderers at training on Tuesday morning, when he'll be reunited with former goalkeeping coach Zeljko Kalac.

The 29-year-old, who first joined Sydney in 2012, only signed a new two-year deal in March but has since lost his starting position to off-season signing Danny Vukovic.

The seventh-placed Wanderers have been in dire need of a solution to their goalkeeping crisis, with under-fire number one gloveman Andrew Redmayne and recently preferred back-up Jerrad Tyson both producing mixed form.

While Janjetovic could be the answer, his arrival will leave Redmayne's future on uncertain ground, given he'll likely slip to third in the pecking order.

Reports suggested the two clubs had been planning a swap deal that would see Janjetovic head west and Redmayne move the other way.

But Redmayne will now have to look to the January transfer window for a lifeline, should he decide against seeing out the remaining six months of his contract on the sidelines.

The first challenge for Janjetovic will be regaining form and fitness, having not played a game all season and spending nearly a month outside of Sydney's training set-up.

Should he step up to the challenge, he could face his former side as early as next month in the Sydney derby at Allianz Stadium on January 14.

He will be the first player to move directly between the two Sydney clubs since the Wanderers entered the competition in 2012, though some have previously plied their trade with the other side.

Veteran Wanderers striker Brendon Santalab and foundation players Mark Bridge and Shannon Cole both did stints at the Sky Blues before joining Tony Popovic's three-time grand finalists.