The Swans had a bid accepted for the 27-year-old earlier today.
The Danish manager, who worked with Hernandez at Getafe, had become frustrated during negotiations with Valencia.
"I managed Pablo in Getafe, he did fantastic for us," said Laudrup. "He did so well that he went back to Valencia.
"I think he has played 27 Champions League games in the last three seasons and made his international debut.
"I am looking forward to having him here, he is a good player with the right mentality."
Hernandez had expressed his desire to be reunited with Laudrup and had been left out of Valencia's squad for their opening two league games.
"I am getting a player who only wanted to come here and play for us and that's great," continued Laudrup.
"The other players who have come here have come from smaller clubs, and here is a player from the third biggest club in Spain and he wants to come here. It's great for us."
Swansea could feature against Sunderland on Saturday if he is signed on time.