Lateef Omidiji Jr currently plays for Dutch side Sparta Rotterdam and has reportedly caught the attention of Europe's top clubs.
However, website AllNigeriaSoccer claims the Gunners have seen off all the competition and have agreed a deal with the teenager.
Arsenal have reportedly agreed a deal for Lateef Omidiji Jr
The report says the north London club have an agreement in place for Omidiji Jr to travel to London every summer to train with the club.
He will reportedly work closely with the Gunners youth team until he is old enough to sign a professional contract.
Omidiji Jr is currently with Sparta Rotterdam's youth academy which has produced a number of stars in the past, including Memphis Depay and Georginio Wijnaldum.
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The striker has dual nationality with Nigeria and the United States but has represented the USA at Under-14 level.
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Omidiji Jr has speed and focus – the technique is so good
However, Nigeria Under-15s coach Danladi Nasidi admitted last year they are keen to poach him.
“He has speed, focus, the technique is so good, the tactical approach is fine and he has the physical ability," Nasidi told website Goal.
"If he comes to play for Nigeria, it will be good for Nigeria."