Vargas will team up with international team-mate Alexis Sanchez in North London.
Arsenal manager Arsene Wenger is set to tie up the signing of Napoli’s Eduardo Vargas on a season-long loan, according to reports from South America.
Chilean site La Tercera report that the 24-year-old will complete the formalities of his move by Wednesday and be ready for the Gunners’ clash with Everton next weekend.
Vargas has failed to impress in Italy and spent the second half of last season on loan with Valencia.
He scored in Chile’s impressive World Cup win over Spain in Brazil this summer.
