The Spain midfielder is in London finalising his move and it is understood he will be part of the Gunners squad which travels to Germany for a training camp next week if, as expected, the deal is formally completed by then.
Arsenal will take on Cologne next Sunday in a friendly arranged as part of the deal which brought Lukas Podolski to the Emirates Stadium.
The club have not yet been able to formally announce the signing of Cazorla owing to complications caused by the financial plight of his current club Malaga, but the Spanish side's problems are not expected to jeopardise the completion of the deal.
The recruitment of Cazorla would be the third major piece of transfer business completed by Arsenal in the close season, with Podolski and Montpellier forward Olivier Giroud also coming in.
They have also been heavily linked with Real Madrid midfielder Nuri Sahin, with Real boss Jose Mourinho saying the player can leave the Bernabeu.
Cazorla was part of Spain's victorious Euro 2012 squad, but only featured for 16 minutes during the tournament in Poland and Ukraine.
He was Malaga's flagship signing of last summer but the club are experiencing severe financial difficulties and look set to offload a number of big names before the new Primera Division campaign begins.
Ajax has released their away soccer jersey for the 2013/14 season. Get in the Gear.
The Juventus jersey for the 2013/14 was released earlier this week. Be the first to wear the colors of the Old Lady.
adidas has added some color to the Predator line with this new colorway. Released on May 17. Be the first to own a pair.
Bayern Munich are kings of Germany and hope to be crowned kings of Europe at Wembley later this month!
The adidas Nitrocharge is the most talked about new cleat in years. It was released on May 15 and will take your pitch by storm.
One of the top soccer cleats for control the Nike CTR360 will not let you down on the field in tight spaces.
The push for more color on their cleats, adidas has added the infrared colorway to the adiZero f50 Line.
The Liverpool 2013/14 soccer jersey is available for pre-order. The Reds are eager to compete for silver next season.
Chelsea won the Europa League on Wednesday. The Blues defeated Benfica 2-1 on injury time goal from Ivanovic.
The new PUMA evoSPEED 1.2 FG. A great new soccer cleat with classic look and first time for PUMA to be on the cleat.