Argentina international reportedly set to sign five-year deal at the Emirates Stadium.
Arsenal have reached an agreement with Real Madrid to sign Argentinian striker Gonzalo Higuain, according to Spanish source Sport.es.
The 25-year-old will reportedly sign a five-year deal at the Emirates Stadium, after the Gunners beat off competition from rivals Tottenham to land Higuain for around £18.6m.
The classy forward has struggled to hold down a first team place at the Santiago Bernabeu this season but has still bagged 14 goals in just 17 La Liga starts.
The French-born Argentina international joined Real from River Plate in 2007 and has scored 105 league goals in 188 appearances in the Spanish capital.
After selling Robin van Persie to Manchester United last summer, Arsenal have struggled for fire-power this term, with striker Olivier Giroud managing just 12 league goals and his deputy Lukas Podolski misfiring in recent weeks.
The north London outfit have been linked with a move to sign Fiorentina forward Stevan Jovetic but now look to have opted for Higuain instead.