According to Metro.co.uk, Gunners scouts have been following highly-rated Sanabria for months, along with a host of other Premier League sides.
And after the 17-year-old stalled on signing a new contract at the Nou Camp, Arsenal moved in and are set to bring him to north London in the new year, the report said.
A five-year-deal has been agreed, and the player's agent Raul Verdu says the transfer could be sealed imminently, the report added.
A fast, strong forward who is at home in front of goal, Sanabria has already been called up for the senior Paraguay team and he has three caps to date, the report further said. (ANI )