Barcelona has accepted a €40 million ($54.4 million USD) bid from Arsenal for Alexis Sánchez, according to Goal.
Arsenal hopes to make the deal official within the next 48 hours.
Sources have told Goal that the financial package offered to Alexis has been agreed in principle by the player and his representatives.
Alexis has preferred a move to Arsenal over Manchester United, Liverpool and Juventus.
It was reported in May that Arsenal had sent a delegation to Madrid to hold talks with a mystery forward, who is understood to have been Alexis.