The Gunners will have to pay £30million upfront for the 25-year-old, with a further £2million in what are considered viable additions.
Zinchenko has also agreed in principle personal terms with Arsenal and he will sign a four-year contract with Mikel Arteta‘s side.
The move is a big boost for Arsenal, who wanted to strengthen their roster at both left-back and midfield.
Zinchenko provides competition for both places and the Ukraine international also brings a wealth of experience.
Arteta knows him well from their time together at Manchester City and their relationship has helped the talks move quickly.
Manchester City are now looking for a replacement for Zinchenko and Brighton’s Marc Cucurella is their main target for that role this summer.