Chelsea has announced full-back Wallace has joined Vitesse Arnhem on a season-long loan to gain more regular first-team football.
The 20-year-old is the latest in a long line of Chelsea players to be loaned out to Vitesse.
Lucas Piazon, Bertrand Traore, Patrick van Aanholt, Christian Atsu, Gael Kakuta and Sam Hutchinson have all spent time at the Dutch club in the last 12 months.
Vitesse, who finished sixth in the Eredivisie last season, enjoy a close relationship with the Blues. The club's owner Alexander Chigrinsky is an associate of Chelsea owner Roman Abramovich.
Wallace joined Chelsea from Fluminese in January 2013, but was immediately loaned back to his former club.
The Brazil under-20 international made his debut for Jose Mourinho's side during last summer's tour of Asia before spending the season on loan at Inter Milan.