Chelsea have reached an agreement in principle with Arsenal for the transfer of Olivier Giroud, Sky Sports News understands.
It is believed the 31-year old striker has undergone a medical and will sign an 18-month contract at Stamford Bridge, with an option for another year.
Giroud's agent travelled to London on Wednesday morning to conclude the deal, which is thought to include a transfer fee of £15.3m with £2.2m in bonuses.
Arsenal confirmed the signing of Pierre-Emerick Aubameyang from Borussia Dortmund on Wednesday which has pushed Giroud further down the pecking order at the Emirates.
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Giroud's move to Chelsea is expected to result in Michy Batshuayi moving on loan to Dortmund as a replacement for Aubameyang.
The January transfer window deadline closes at 11pm on Wednesday, meaning any deal for Giroud will have to be completed before then.
Arsenal and Chelsea have yet to comment.