Alex Runarsson will join Turkish side Altay on loan for the rest of the season, football.london understands.
The Iceland international joined the Gunners from French side Dijon last year for £1.5million.
Runarsson, 26, made an error against Manchester City in the Carabao Cup last December, before falling further down the pecking order when Mat Ryan was brought in as no.2 from Brighton last January.
He will travel to Izmir next week before signing on a season long loan deal, with youngster Arthur Okonkwo expected to be third choice shot stopper for the upcoming campaign.
Highly-rated Okonkwo received his first senior call-up in March when he was named amongst the substitutes for the Europa League last 16 second leg encounter against Olympiacos.
Fellow goalkeepers Karl Hein and James Hillson have also been picked in rotation as the third-choice goalkeeper for European games, with Estonian international Hein another starlet who has been earmarked for a bright future in the game.
However, football.london understands that contract talks with Hein have stalled and as things stand he is likely to leave on a free transfer next summer.
Aaron Ramsdale remains Arsenal manager Mikel Arteta's main goalkeeping target this summer, despite preliminary talks with the representatives of Ajax goalkeeper Andre Onana last month.
Ramsdale has been the subject of two bids from Arsenal so far, with Sheffield United holding out for a fee in excess of £30million.
The England international was Sheffield United's player of the season despite their relegation last campaign and was part of England's Euro 2020 squad, although he did not make an appearance for Gareth Southgate's side.
The Gunners will also confirm the signing of Ben White from Brighton later this week following the completion of his medical.
White will arrive in a deal worth £50million following the arrivals of Nuno Tavares and Sambi Lokonga this summer.
