Joel Campbell intends to make the most of his loan spell at Villarreal - part of the deal which will see Gabriel Paulista move in the other direction.
Brazilian defender Gabriel, 24, has received formal approval from the Home Office for a work permit, and is understood to have completed a routine medical at the club's Hertfordshire training base.
Arsenal are yet to announce the transfer, reported to be worth around £11million, with some formalities still to be completed.
However, one part of the deal has already been confirmed by Villarreal, with Costa Rica forward Campbell moving to the Yellow Submarines on loan until the end of the season.
The 22-year-old has found his first-team chances limited with Arsenal this season, having been integrated into the squad following a loan spell with Olympiacos last season and an impressive World Cup in Brazil.
Campbell is eager to make the most of his fresh start in Spain, where he also had a spell at Real Betis in 2012-2013.
"I hope to work hard to do things in the best way," Campbell said.
"I want to spend these four months well and succeed here. I am very happy."
Campbell, who could feature against Barcelona on Sunday, added on Twitter: "Ready to work by Villarreal. Excited with this new challenge.
"Thanks to the whole family of Arsenal for their messages. I hope to make them proud."