According to Barcelona insiders, 31-year-old Villa has set his heart on a switch to the Gunners after deciding to quit the Nou Camp, reports The Sun.
Boss Arsene Wenger failed in a bid to land Villa last month.
But Villa will have just a year left on his contract and Arsenal are likely to get him for less than the 16 million pounds demanded in January.
After a long-term injury last season, Villa has failed to command a first-team place at Barca this term. He has made just 15 competitive starts - yet still scored 10 goals.
Now the Spain striker wants to be with a team where he will once again be the main man. Villa earns around 110,000 pounds a week at the Nou Camp, so his wages will not cripple the Londoners financially.
But Wenger will have to change his policy of giving only one-year contracts to players over 30.
Villa is likely to be offered a three or four-year deal. (ANI )