Arsenal and Malaga have confirmed the transfer of Santi Cazorla via their official websites.
The player, who has been in London since last Thursday trying to agree terms, has passed the required medical and will be presented as a Gunners’ player on Tuesday afternoon.
Cazorla, 27, represented Spain at the recent European Championships but has been forced to depart crisis club Malaga after they were put up for sale by Qatari owner Sheikh Abdullah Al-Thani.
Having joined Los Blanquiazules for €21m from Villarreal last summer, Cazorla becomes the third player to leave La Rosaleda this week following midfielder Apono’s departure to Real Zaragoza and Jose Salomon Rondon’s €10m move to Rubin Kazin.
The fee for the Asturias-born player is believed to be around €15m, with part of the money destined for Villarreal, who are still owed around €3.5m in VAT for his transfer to Malaga.
Cazorla, who played in all 38 La Liga games for the Costa del Sol club and scored nine goals, believes the opportunity to sign for the London club is one he could not afford to turn down.
“I am very happy to be here as it is a huge club,” Cazorla told Arsenal’s website.
“It is a great step forward in my career and I hope it will be a very good experience. I hope to win trophies here – that is what I want of course.
“I remember when I signed for Malaga there was already interest from Arsenal. It was always a club I liked very much.
“Because of circumstances in football, things have not gone the way we wanted at Malaga this year but now I am going to have the opportunity to experience the Premier League and to be at a big club.
“I could not miss this opportunity. I am 27 so it was the last train I could catch.”
Cazorla will join his new teammates at their pre-season training camp in Germany and says he cannot wait to begin this new chapter in his career.
“Everyone who has played here such as Robert Pires and Cesc Fabregas have spoken very highly about the club,” he said.
“I think it's one of the greatest in Europe. It is always fighting for silverware and just for those reasons it is worth trying to play at this club and in the Premier League.”