23-year-old Ellis started his career with Exeter City as a youth player before moving north to Bolton Wanderers to join their academy.
The Kingsbridge born defender has been intent on leaving Plainmoor after five years at the club where he made 136 appearances and netting 12 goals in the process since his move to Torquay back in 2007.
Ellis had been offered a two-year deal with the Gulls but has rejected that and it now seems that the two clubs have now agreed a fee instead of having to go to a tribunal.