Skysports.com understands Gilberto Silva has flown to Athens to seal his proposed move to Panathinaikos.
As revealed by skysports.com last month, Panathinaikos were leading the race to sign the South American and they are now close to completing a deal.
Gilberto has been given permission by Arsenal to travel to Greece to undergo a medical after accepting a bid for the Brazilian international.
The 31-year-old has been offered a lucrative three-year deal by Pana to leave Emirates Stadium.
Gilberto decided to leave Arsenal after being informed by Gunners boss Arsene Wenger that he could not guarantee him a place in the starting line-up next season.
Pana beat off a late move from Everton to sign Gilberto, with new Panathinaikos coach Henk Ten Cate a big admirer of the midfielder.
Gilberto joined Arsenal from Brazilian side Atletico Mineiro after the 2002 World Cup, helping them win the Premier League title and the FA Cup twice during his six-years at the club.