Takaoka, 26, has spent parts of the last three seasons with Yokohama, helping the club to the 2022 J1 League championship, and earning a spot in the league's Best XI.
Takaoka has made 86 league and cup appearances for Yokohama F. Marinos, but the player wants a new challenge. Takaoka is also aiming to work his way into the Japan national team. His existing deal expires in January 2024.
He made his professional debut with Yokohama FC, which at the time was in the J2 League. After becoming the team's regular keeper in 2017, he moved to the Japanese top-flight with Sagan Tosu in 2019, making 52 league and cup appearances.
If a deal is completed, Takaoka will need to beat out incumbent Thomas Hasal, who made 17 appearances last season for the Whitecaps.
Cody Cropper, who made 15 appearances in goal for the Caps, didn't have his contract option picked up.