As reported by Goal, the Gunners are close to finalising a deal for the Argentina international with Higuain having already agreed to a £100k-a-week salary with the north London club.
And Dixon believes Higuain, who scored 16 goals for los Blancos in La Liga last season, can be a huge success for Arsenal.
“If it comes off [Higuain signing for Arsenal], hopefully from an Arsenal point of view, he’s quality through and through,” Dixon told Sky Sports News.
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Everton midfielder Marouane Fellaini is also close to joining the Gunners, with Goal exclusively revealing the club had made a £22m bid for the Belgian, and former Arsenal goalkeeper David Seaman believes he would be an excellent addition.
“He [Fellaini] is a great player and Arsenal have got to change their ways a little bit to get the best out of the team,” said Seaman.
“You’ve got to have your own strengths and he has certainly got a lot of them especially aerial strength. If he does join I think he’ll be a great signing.”
One player that could be leaving the Emirates is centre-back Thomas Vermaelen, who lost his place in the starting XI at the end of last season, but Dixon has backed the Belgian international to return to form.
“I think he [Vermaelen] should stay and fight for his place,” Dixon continued. “We are now starting to see the fruits of Steve Bould’s work over this last year.
“They were a lot more solid towards the end of the season and I think he can benefit from that because he’s a great defender but as a team defender I think he’s got things to learn and that’s where Steve’s knowledge will be utilised.”