Habeeb Ogunneye says it is “time for the next chapter”.
It is understood that Ogunneye will mainly be involved with Arsenal Under-21s, though he is also expected to get chances to train with the first team.
Although there has not yet been an official announcement of the transfer, Ogunneye has now virtually confirmed the move with a farewell message to Manchester United.
He wrote: "Five years. What a journey. Forever grateful for the memories, the people and everything this club has given me. Time for the next chapter."
Ogunneye is set to be joined at Arsenal by Manchester United team-mate James Scanlon, while Igor Tyjon's move from Championship club Blackburn Rovers was confirmed on Friday.
The 18-year-old is understood to have joined the north London club for an initial fee of around £1million, with a possible further £2m in add-ons.
The Gunners had made several attempts to sign Tyjon in previous transfer windows, but Blackburn initially stood firm and this summer extended his scholarship terms.
However, the striker turned down the offer of a professional contract at Ewood Park in favour of joining Arsenal.
"It feels amazing," Tyjon said. "I've waited a long time for this and I can't wait to get started.
"It's a dream come true for [my family] as well, it's always a nice feeling when you make your family happy, so I'm buzzing for them as well.
"Who doesn't want to join the champions? I can't wait to be part of the team.
"The pathway, the staff, the players, everything about it, it's just top. I'm excited to meet the group, meet the players, hit the ground running and have a good season."