The 20-year-old midfielder has cancelled his existing deal in Spain amid rumours strongly linking the Frenchman with a move back to Ligue 1
The France international has been heavily linked with a move away from los Rojiblancos in recent months, with the Gunners holding a firm interest before being put off over concerns regarding third party ownership.
Kondogbia has told Sevilla that an unnamed team will now meet his release clause, which stands at €20 million, with that club believed to be Monaco.
"Geoffrey Kondogbia is already history at Sevilla FC," read a statement on the Spanish side's website on Tuesday. "The French international has officially informed the club that he will unilaterally rescind his contract."
The Spanish outfit appear to have pre-empted the 20-year-old's departure by announcing the signing of QPR midfielder Stephane Mbia on a season-long loan.
Kondogbia, 20, joined Sevilla from Lens last summer and made 31 appearances for the club last season.