The deal has been considered to have been virtually done for weeks, albeit unannounced. A fee of around £17m was agreed with Borussia Dortmund for the central defender back in June.
Sokratis completed his medical with Arsenal on Friday with no complications as expected.
The deal has taken so long to be announced because Dortmund wanted to wait until their new financial year before confirming the transfer.
German outlet RuhrNachrichten believe that will be today when the Bundesliga outfit’s director Michael Zorc returns to work.
Having been capped 79 times by Greece, the 30-year-old will be an experienced addition to Unai Emery’s squad.
Last season, Sokratis made 43 appearances for Dortmund, scoring three goals. Sokratis’ father revealed last month that his son had rejected the advances of Manchester United to join Arsenal.
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