Denis Suarez has agreed to join Arsenal after holding talks with Unai Emery.
Spanish publication Sport believe Barcelona are willing to loan Suarez to Arsenal with an obligation to buy.
The 25-year-old has received offers from AC Milan, Valencia, West Ham and Everton.
However, Suarez spent the best time of his career under Emery at Sevilla and wants to rekindle that relationship in north London.
The midfielder has expressed a desire to leave Barcelona due to a lack of playing time.
He has played just 17 minutes of league football this season.