Stefan Eriksson, or 'Fat Steffe' as he is known in Sweden, was jailed for three years in November 2006 by a Los Angeles court.
On December 13th last year, Eriksson was transferred to a detention centre outside Los Angeles while waiting to be placed on a flight to Europe, Veckans Affärer reports.
It is not clear whether the former video games executive will be sent to Sweden or to Germany, where his wife and daughter have their home.
"Everything was ready before Christmas. It took a while for the Swedish consulate to prepare a new passport. But he's expected to be on his way very soon," wife Nicole Eriksson told Veckans Affärer.
Stefan Eriksson became known internationally as the 'Ferrari Swede' after wrecking an exclusive $1 million Ferrari Enzo in a high-speed car crash near the celebrity enclave of Malibu in February 2006.
Eriksson pleaded no contest to charges of embezzlement in November 2006, days after a jury had failed to agree a verdict on charges he had stolen two Ferrari Enzos and a top-end Mercedes-Benz.
The car – one of only 400 made and the most expensive Ferrari on the market – was severed in two after slamming into a power pole. Eriksson walked away unscathed from the crash.
Prosecutors said Eriksson stole the three cars after leasing from a British company and shipping them to the United States.