Martín Zubimendi is set to have a medical before completing his transfer from Real Sociedad to Arsenal, sources have told ESPN.
Arsenal have been working on a deal for the 26-year-old for a number of months and are now organising the final details of his transfer. Sources have told ESPN that Zubimendi has a €60 million ($68m) release clause in his Sociedad contract.
ESPN reported last month that Arsenal are confident they will make the midfielder their first major summer signing despite interest from Real Madrid.
Arsenal moved ahead of Liverpool in the race to sign the Spain midfielder in January.
Zubimendi turned down the chance to become Arne Slot's first signing as Liverpool head coach last summer. He later said he had no regrets over his decision.
Arsenal boss Mikel Arteta is a keen admirer of the player while new sporting director Andrea Berta is also in agreement that Zubimendi would strengthen a midfield which could be set for a reshuffle this summer after the team fell short in the race for the Premier League title.
The north London club are in discussions with Thomas Partey over a new contract for the Ghana international, while veteran Italian midfielder Jorginho will move on when his contract expires on June 30.
Arsenal are targeting multiple additions this summer with a striker and a wide forward among the positions they want to strengthen. The Gunners have funds available but, as with many clubs, would be open to allowing certain players to leave to help bolster their spending power.