The Egypt international is poised to complete a £7m switch from Basel after agreeing a four-and-a-half year contract with the Gunners.
The deal had been delayed due to a problem with his work permit but he is now set to fly into London to wrap up the move.
He could be part of Arsenal's squad for their FA Cup third round tie with Sunderland on Saturday.However, the 23-year-old is likely to be eased back into action as he has not played since December 10 due to the winter break in Switzerland.
Arsenal striker Olivier Giroud had hinted yesterday that a deal for Elneny was near to completion.
"I know that maybe we sign a player," he said.
"An Egyptian one...”
Arsenal are currently two points clear of Leicester at the top of the table and are eyeing a first Premier League title since 2004.
Arsene Wenger revealed over the weekend that he would be looking to make a maximum of two signings as players return from injury.
Starsport exclusively revealed this morning that Watford captain Troy Deeney is a target for Wengeras he considers adding another striker to his squad.
The Gunners could test Watford's resolve to hold on to the 27-year-old with a £20m bid.
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