Gunners chief Arsene Wenger is said to have all but sealed a six-month switch for the 21-year-old, who was said to have been close to joining Spurs.
The Frenchman sees the Spain U-21 international as back-up to Olivier Giroud – who is currently the Londoners’ only available top class front-man.
Morata is believed to be desperate for more playing time, and after making just one La Liga start this season, feels that his chances are far greater at the Emirates Stadium.
The skilful forward starred at the U-21 European Championships over the summer, where he helped La Rojita to claim the trophy and finished the competition as the top scorer – helping him to an international record of 11 goals in 12 outings.
Tottenham were said to have tried to make Morata a part of the deal that took Gareth Bale to the Bernabeu, but were unsuccessful with Real keen to keep their man.