Voynov, whose KHL rights belong to Traktor Chelyabinsk, will sign with St. Petersburg through a transfer deal, according to mulitple reports.
Facing deportation proceedings with U.S. Immigration and Customs Enforcement, Voynov left the Kings last month, saying he was returning to Russia.
The Kings said his departure ended his contract, which had four years left at an average cap hit of $4.16 million per season.
A native of Chelyabinsk, Russia, Voynov, 25, had been taken into custody by federal authorities earlier last month after being released from jail for serving a sentence for domestic violence.
He also was facing potential further NHL discipline if he tried to stay and play in the league.
Voynov was arrested last October after his wife was taken to a hospital with injuries resulting from a domestic dispute with Voynov that began at a team party and continued at their Redondo Beach, California, home.
Voynov pleaded no contest to a misdemeanor charge of domestic violence and was sentenced to a 90-day term earlier this summer, along with three years of probation.
He was suspended with pay by the NHL immediately after his arrest. The team also suspended Voynov without pay in relation to a non-hockey injury he suffered. The league probably would have suspended him without pay if he had tried to stay and continue his NHL career.
Voynov won the Stanley Cup as an NHL rookie with the Kings in 2012, and he was the No. 2 defenseman on Los Angeles' second championship team in 2014. He also played for Russia at the Sochi Olympics, establishing himself as one of the nation's top defensemen.
Information from ESPN Staff Writer Pierre LeBrun and The Associated Press was used in this report.