Arsenal will sign Riyad Mahrez next week according to Calciomercato.it.
The 26-year-old will join Alexandre Lacazette to become Arsenal's third signing of this summer's transfer window.
Last month, the Algerian confirmed that he will no longer play for the Foxes.
"The chairman and I agreed that I would stay another year at the club and that he would let me leave at the end of the season," Mahrez said.
"I think it would be the right time for me to leave, I have experienced everything at this football club."
The 2016 Player of the Year will move to the Emirates after the two clubs have reached an agreement for £45million.
