Torreira arrived in Italy on Tuesday and underwent a medical at Fiorentina ahead of his move to the Italian club.
The midfielder was training away from the rest of the Arsenal squad in London and has been pushing for the move away from the Emirates.
A deal has been in place between the two clubs for some time and they were working on finalising and formalising the agreement.
And it has been claimed all the paperwork has been signed, sealed and completed for Torreira to join Fiorentina on loan.
The Italian club are expected to make an announcement soon for the midfielder’s official arrival.
They have agreed to pay a loan fee of €1.5m to Arsenal for the signature of Uruguayan international.
Fiorentina have also reserved an option to make the move permanent for a fee of around €15m.
The midfielder previously played at Pescara and Sampdoria in Italy and was keen to return.
