Emirates Stadium side to welcome youngster as first major summer signing of the summer.
There is growing speculation that Arsenal are set to sign Brazilian international Bernard with many sources reacting to ESPN reports of a deal being struck.
It is believed that the North London club have agreed to fork out the €25m (£21m) needed to lure the Atletico Mineiro man to the Premier League.
The pint sized playmaker, who plays predominantly on the left side of the midfield, was part of Brazil’s Confederations Cup winning squad and considered one of the hottest prospects in South American football.
Wenger has targeted a number of high profile additions, seemingly moving in close to deals to sign the likes of Gonzalo Higuain and Marouane Fellaini however a move for young talent Bernard is perhaps more in keeping with the Gunners boss’s transfer policy.
The likes of Nicklas Bendtner, Marouane Chamakh and Gervinho are expected to follow the likes of Andrei Arshavin, Sebastien Squillaci, Denilson and Vito Mannone to the Arsenal exit.
Bernard has made 97 appearances for Belo Horizonte based side Atletico Mineiro, scoring 21 goals in the process.