The London Evening Standard says he will become one of the highest-paid British player in history when he leaves the Gunners at the end of the season.
Ramsey is set to earn a staggering £400,000-a-week before tax after finally agreeing to join Juventus at the end of the season.
"As you may have already heard, I have agreed a pre-contract with Juventus Football Club," Ramsey wrote in an Instagram post.
"I wanted to issue a personal statement for all the Arsenal fans wh have been extremely loyal and supportive.
"You welcomed me as a teenager and have been there for me through all the highs and lows I've encountered during my time at the club.
"It is with a heavy heart that I leave after 11 incredible years in North London. Thank you.
"I will continue to give the team 100% and hope to finish the season strongly, before heading on to my next chapter in Turin."
Arsenal confirmed the transfer in a club statement.