Viktor Gyokeres is expected in London on Friday after Arsenal agreed a £63.8m deal with Sporting for the striker.
The Gunners will pay the Portuguese club a £55.1m (€63.5m) guaranteed fee, plus £8.7m (€10m) in add-ons.
Sky Sports News understands Gyokeres is due in London on Friday to sort final contractual details with Arsenal.
It is thought that the plan is then for him to join up with the squad in Singapore and complete his transfer from Sporting.
Bringing in a striker has been a primary focus for Arsenal in this transfer window - they have explored conditions for a number of players, including RB Leipzig's Benjamin Sesko.
Sky Sports News reported in June that Gyokeres was a Manchester United target after they made an initial approach for him through intermediaries.
Last month, Sporting president Frederico Varandas revealed Gyokeres would not be allowed to leave for less than £59m (€70m) this summer after disputing the existence of a 'gentleman's agreement' with the Swede's agent that would allow him to leave for a fixed fee of £50.8m (€60m), plus £8.4m (€10m) in add ons.
After joining Sporting from Coventry City for around £20m in 2023, Gyokeres has scored an incredible 97 goals in just 102 matches during his two seasons in the Portuguese capital.
Gyokeres netted 54 goals in only 52 games in all competitions last campaign, including a hat-trick against Manchester City in the Champions League, as he helped Sporting win the league and the Portuguese Cup.
A move to Arsenal sees Gyokeres return to English football, having joined Brighton & Hove Albion in January 2018, before moving to Coventry after loan spells at St Pauli and Swansea City.
Gyokeres scored 43 goals for Coventry in his two and a half seasons with the Championship side.
Gyokeres part of busy summer at Arsenal
Developments around Gyokeres come amid a busy summer of incomings at Arsenal.
They announced the signing of midfielder Martin Zubimendi from Real Sociedad in a £51m deal and another central midfielder, Christian Norgaard, arrived from Brentford for £15m.
Spaniard Kepa Arrizabalaga was signed for £5m from Chelsea, followed by a £52m deal for Noni Madueke.
And Arsenal are set to confirm the signing of Valencia defender Cristhian Mosquera in an initial £13m deal.