Mesut Ozil is expected to sign a new contract extension with Arsenal.
The German World Cup winner is approaching the end of his existing deal, which is due to expire at the end of the season.
He has frequently been linked with a move away from the Emirates Stadium. However, Ozil is reported to have agreed a three-and-a-half-year extension.
That news emerged following Arsenal's club-record signing of Pierre-Emerick Aubameyang from Borussia Dortmund on transfer deadline day.
Press Association Sport sources at Arsenal suggested on Wednesday the formalities of the deal had not yet been finalised.
The extension to Ozil's contract, which would take him through to 2021, is reported by the BBC to be worth £350,000 a week before tax. That would make the 29-year-old German the highest-paid Arsenal player in the club's history.
Ozil joined Arsenal from Real Madrid in 2013, arriving for what was then a club-record transfer fee of just over £42million.
Chile forward Alexis Sanchez had also been out of contract with Arsenal at the end of the season, and he joined rivals Manchester United last week in a deal which saw Henrikh Mkhitaryan move in the opposite direction.