According to David Hytner of the Guardian, the striker has already agreed in principle terms for a four-year deal at Arsenal.
Higuain has scored 122 goals in the 262 games he has featured in for Madrid, since joining the side in 2007.
But who is Real Madrid going to sign to replace the Argentina international?
Los Blancos have been linked with a host of star strikers—from Luis Suarez to Edinson Cavani and even Wayne Rooney.
Who should top Madrid’s list of the world’s best replacements for Higuain?
There is an argument for including Cristiano Ronaldo in this list—were Madrid to sign Gareth Bale, CR7 could convert into an out-and-out striker. But with 34 goals in 34 La Liga games from the wing in 2012/13, some things are best left unchanged.
We’ve analysed the top 10 strikers currently on the market and ranked them in order of their suitability for the side and the likelihood of them actually joining the club.
Did we miss anyone who you would like to see up front at the Bernabeu? Let us know in the comments section below.