The 31-year-old midfielder, who has over 100 caps for Sweden, is set to finalize his move to the Gunners.
Kim Kallstrom has completed an Arsenal medical and is set to finalize a loan move until the end of the season.
Blaise Matuidi was Wenger's No.1 target but the France international has decided to extend his Paris Saint-Germain contract. The Arsenal boss then turned to Southampton’s Morgan Schneiderlin, but was put off by the high price put on the midfielder.
Wenger eventually sanctioned a move for Kallstrom and the 31-year-old arrived at Arsenal's London Colney training base on Friday for personal talks and to undergo a medical, which he has now passed.