The 27-year-old, who has scored six goals this season, arrives at a Lyon side sitting seventh in Ligue 1, seven points adrift of Rennes in the third and final Champions League place.
Toko Ekambi will provide Lyon coach Rudi Garcia with another attacking option after winger Memphis Depay was ruled out until the end of the season after suffering a knee injury.
Lyon will pay four million euros ($4.44 million) as a loan fee, with the deal including an option to make Toko Ekambi’s stay permanent for 11.5 million euros.
The forward scored 17 goals in the 2017/18 Ligue 1 season for Angers, before netting 18 times in all competitions for Spanish outfit Villarreal last term.
Lyon face Lille in the French League Cup semi-finals on Tuesday, take on Nice in the French Cup last 16 later this month and are also still in the Champions League, where they will next play Juventus.
