The 17-year-old is seen as one of the Catalan giants’ finest emerging stars, and has been tipped to make a big impact at the club for some time.
However, Sanabria is thought to be concerned that he may struggle to force his way into the Nou Camp outfit’s first-team squad.
The Paraguayan operates in an attacking role, which places him in direct competition with the likes of Lionel Messi, Neymar, Pedro and Alexis Sanchez.
As a result, he is ready to leave Barca, and could follow in the footsteps of Cesc Fabregas – who also joined Arsenal.
The youngster’s agent, Raul Verdu, says that the Gunners are keen and that a deal could be completed swiftly:
“Our contacts with Arsenal are advanced and I expect a solution in the next week.”
Arsenal are set to discuss a deal with Barca and Sanabria in the coming days, which could result in them securing the South American for a £300,000 compensation payment.