A statement on the Spanish club's website revealed that the France international was travelling to England on Sunday.
"Defender Sebastien Squillaci is tonight travelling to London to have a medical at Arsenal, the club he will be transferred to after an agreement was reached by the two clubs pending the results of the medical."
Despite having signed Laurent Koscielny this summer, the Gunners are still short of options in the centre-back position as Sol Campbell, William Gallas and Mikael Silvestre all departed the north London club at the end of last season.
Sevilla had already stated that an offer had been received from Arsenal for the centre-back who was part of France's ill-fated World Cup 2010 squad, but this has not been confirmed by anyone at the Emirates.
Squillaci was, however, omitted from last week's Champions League qualifier against Braga at his own request in order to avoid being rendered ineligible for other clubs competing in the competition.
Despite having an injury plagued 2009-10 season, Squillaci has been a success in La Liga, and Arsene Wenger will be eager to add the Frenchman to his defensive options before the end of the transfer window.