Higuain and his agent father Jorge are believed to have agreed personal terms in excess of 130,000 pounds-a-week as Arsenal prepare to smash their transfer record and wage structure, the Mirror reports.
The Spanish giants circulated Higuain's name for transfer last month and gave him the green light to negotiate a move away from Real Madrid this summer, with the report adding that the player is keen to move to Arsenal after talks with Arsenal boss Arsene Wenger.
Wenger hopes to wrap up the formalities before the club's Far East tour in three weeks' time.
Higuian's landing will be seen as an Arsenal's signal towards determination to challenge again for major trophies. (ANI )