The Gunners have been linked with the Colombia international over the past couple of the weeks following the 25-year-old’s impressive World Cup performances.
Ospina, capped 40 times by Colombia, has spent the past six seasons at Ligue 1 outfit Nice after moving from Atletico Nacional in 2008.
The Colombian will compete with Poland international Wojciech Szczesny to be Arsenal’s number one next season after Lukasz Fabianski left the Gunners this summer.
And Arsenal manager Wenger was thrilled to add the experienced goalkeeper to his blossoming Gunners squad.
Wenger said: “David Ospina is an excellent goalkeeper, with good experience and a proven record of performing with Nice and Colombia.
“He will add strength to our squad and we are very pleased that he will be joining us.”
Ospina began his career with Atletico Nacional in Colombia’s Categoria Primera A league, aged just 17. An experienced international, he currently has 49 caps for his country.
The new signing’s Arsenal squad number will be revealed soon through Arsenal’s official Instagram account.
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