The Fijian was one of 12 players to depart the Ricoh and the Fijian is to return to France, where he had successful spells with Toulon and Bayonne.
Lovobalavu, who turns 34 later this month, is joining Oyonnax and was one of a trio of signings announced by the club today, including another Fijian, 21-year-old Adrian Sanday and French scrum half Ilhan El Khattabi.
Winger Sanday has signed a deal until 2022.
— Oyonnax Rugby (@OyonnaxRugby) June 11, 2019
Lovobalavu has represented Fiji at two World Cups, helping the team to the 2007 quarter-finals and was also part of the squad at the 2015 tournament in England.
He 86 times for Toulon between 2008 and 2012, moving to Bayonne where he spent five seasons, making 78 appearances.
He joined Wasps for the 2017/18 season and the centre played 19 times this season for Dai Young’s team.
In other news: Fiji’s defence coach cut loose
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