The 27-year-old Italy international is due to fly to London on Sunday night to discuss personal terms with the Gunners and undergo a medical, which is expected to take place on Monday morning.
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It is understood that Arsenal will pay a substantial loan fee for the keeper, who became available after his club Palermo were relegated to Serie B.
Viviano spent last season on loan at Fiorentina but they have not taken up an option to buy him and he is now expected to complete a move to Arsenal before Monday night’s transfer deadline.
Arsene Wenger turned his attention to Viviano after continually revising his list of goalkeeping targets during the summer.
Arsenal had made moves for a string of keepers, including QPR’s Julio Cesar, Valencia’s Vincente Guaita and Stoke City’s Asmir Begovic.