Mail Sport reported last week that the Mikel Arteta's side had agreed a deal in principle with the LaLiga club to sign the Spain international, with the Gunners looking to bolster their midfield options.
On Sunday, Fabrizio Romano wrote on X (formerly Twitter) that Merino, 28, had 'completed his medical' with Arsenal and that both clubs were 'exchanging documents'
He wrote on X: 'Mikel Merino has completed his medical as new Arsenal player with clubs exchanging documents, deal being sealed.
'€32m (£27m) fixed fee, €5m (£4.23) add-ons and contract until June 2028 plus option for further season.'
Fabrizio Romano wrote on X (formerly Twitter ) that Merino, 28, had 'completed his medical' with Arsenal
Fabrizio Romano wrote on X (formerly Twitter ) that Merino, 28, had 'completed his medical' with Arsenal
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Should the deal be completed, Merino will become Arsenal's third permanent transfer this summer after the Gunners signed David Raya from Brentford and Riccardo Calafiori from Bologna on a £42m deal.
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Transfer chiefs at the north London club had been keen to add another midfielder this summer, with sporting director Edu having been in Spain this week to push a deal over the line.
It comes as Fabio Vieira looks set to finalise a loan move to re-join Porto in the coming days having arrived in the captial just two years ago.
Despite joining the club for £30m in 2022, Vieira has struggled to make an impact in Arteta's side and was not listed in the Gunners' squad for their 2-0 victory away to Aston Villa on Saturday afternoon.
Merino was an integral part of Spain's successful Euro 2024 campaign, featuring in all of their matches during the tournament to help Luis de la Fuente's side clinch their fourth European Championship title.
It comes as Fabio Vieira looks set to leave the club on loan and will return to Porto two years after joining in a £30m deal
It comes as Fabio Vieira looks set to leave the club on loan and will return to Porto two years after joining in a £30m deal
Arsenal transfer chiefs have been in Spain this week attempting to push a deal for Merino (pictured) over the line
Arsenal transfer chiefs have been in Spain this week attempting to push a deal for Merino (pictured) over the line
The 28-year-old could partner up with Declan Rice in Arsenal's midfield and already has experience playing in England, having joined Newcastle in 2017 initially on loan from Borussia Dortmund, before agreeing a permanent move in 2018.
But his stay at St James' Park wouldn't last long, with Merino moving back to Real Sociedad that same summer, where he has returned 27 goals and 30 assists across 242 appearances in all competitions for the Spanish club.
The Spaniard has just one year left on his contract with Sociedad and was not listed in the side's squads for their opening LaLiga matches against Rayo Vallecano and Espanyol.
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