Hutton, the Scotland international defender, will join Mallorca for a second loan spell, which could last for the season, as Lambert moves to trim his squad.
The 28-year-old has been training in a group including £24 million record signing Darren Bent, Stephen Ireland, Shay Given and Barry Bannan, who have all been told they can leave the club.
Hutton still has two years remaining on his £40,000 a week contract and has not played for Aston Villa since Lambert's appointment.
Mallorca were relegated last season to the Segunda Division but Hutton impressed after signing on loan in January.
Bent could be the next big earner to leave Villa, with Newcastle and Fulham both weighing up bids for the England international.