The Italian journalist, who is known for having the inside track on many big deals in world football, claims that Gunners’ Technical Director Edu is currently working on the “final details” of the move.
Jesus has been linked with the North London side for several months after it became clear his game time at Manchester City would be limited following the arrival of Erling Haaland from Borussia Dortmund this summer.
Jesus, 25, moved to Manchester City in August 2016 for a reported fee of £27 million from Brazilian side Palmeiras.
During his six seasons at The Etihad, the striker has made 236 appearances in all competitions and scored a total of 95 goals.
He is a four time Premier League champion, three time EFL Cup winner, FA Cup winner and Champions League runner-up with City.
Arsenal have been the front runners for his signature for some time although there have been reports that Tottenham Hotspur were prepared to swoop with an offer of their own should the move collapse.
Check out the latest Premier League transfer speculation below...
1. Hammers make Lingard bid
West Ham have made an offer to Jesse Lingard’s representatives over signing the player on a free transfer. (Sky Sports) | Manchester United via Getty Imag
2. Fulham make Mbabu offer
Newly-promoted Fulham have made an offer for Wolfsburg right-back Kevin Mbabu. (Tutto Mercato Web) | Getty Images
3. Gunners target Martinez
Arsenal want Ajax centre back Lisandro Martinez but the Dutch club have raised his price tag above £35m amid interest from Manchester United. (Daily Mail) | Getty Images
4. Roma plot Veltman raid
Jose Mourinho’s Rome and La Liga outfit Sevilla are on the trail of Brighton defender Joel Veltman. (Sky Sports) | Getty Images