They have signed an agreement worth more than 30 million-pounds-a-year, which could see the five year contract worth 170 million pounds in total.
According to the Mirror, the deal brings Arsenal's 20-year tie-up with Nike, which is worth 55 million pounds over seven years, to an end.
The deal, which will not be announced officially for some time, will give Arsenal major additional financial clout on top of the 150 million pounds five-year shirt sponsorship deal with Emirates.
Furthermore, Puma have strong links with the African market and that is an area where they believe Arsenal are particularly strong and have even bigger potential. (ANI )