French outlet Ouest-France, as quoted by the Daily Star, is reporting that the Gunners are closing in on a deal to bring the 19-year-old to The Emirates as another one of Unai Emery’s signings.
The same story says that a £7.1m (€8m) plus add-ons deal has been agreed between the two clubs, and that the teenager will undergo a medical with the Gunners in the coming days ahead of the transfer going through.
The article claims that Guendouzi had also been attracting interest from Tottenham Hotspur and was linked with a move to White Hart Lane in January, but the Gunners seem to have won the race for his signature.
Arsenal have already completed three signings so far this summer as Emery gears up for his first season in charge of the north London club.
The Gunners will be looking to at least break back into the top four next season as they look to try and make a positive start under their new manager.
Arsenal ended up in sixth place in the Premier League table and without a trophy last season.
MORE: Man United latest news
MORE: Arsenal latest news
MORE: Chelsea latest news
MORE: Liverpool latest news