The former PSG coach has emerged as the "unanimous choice" for the Arsenal board to succeed Arsene Wenger after an extensive interview process over the past few days.
Arteta had been the favourite to replace Arsene Wenger and the Spaniard was keen to take the job after provisional talks with the Gunners.
His stock rose dramatically at Sevilla where he won three consecutive Europa League crowns between 2014 and 2016.
An announcement is expected later this week.
However, while he is described as "not completely fluent" in English, that is not described as a problem, and his appointment is expected to be ratified shortly.
Unai Emery has an edge over Mikel Arteta because of his managerial experience, says Sky Sports pundit Charlie Nicholas.
"What's going on at Arsenal?" I can't get it out of my head.
Arsenal are searching for their first new manager since 1996 with Wenger departing at the end of this season after almost 22 years at the North London club where he won three Premier League titles and seven FA Cups.
"You know the stuff that's just going past?"
The next Arsenal manager will be charged with trying to restore the team to regular Champions League qualification and Premier League title contention, the Gunners having now missed out on elite continental competition in back-to-back campaigns. There was a gathering of the influential Arsenal Supporters Trust at a smart lawyers' office on Cannon Street in London yesterday, with fans loving listening to Ray Parlour reminisce about great days and nights out, when news filtered through about Unai Emery. If we do see a difference in intensity, drive and consistency everybody will get onside and that's all Arsenal fans want to see.