Yaya Sanogo clinched a loan move to Crystal Palace on Tuesday, as confirmed by Arsenal's official website.
Arsene Wenger was keen for the French under-21 international to get more Premier League experience under his belt, rather than loan him abroad.
Sanogo has made only two Premier League starts this season, and one substitute appearance, with no goals.
Club record signing Mesut Ozil took to Twitter to wish him well, positive the striker would be back.
Arsenal travel to Crystal Palace on February 21, but Sanogo is expected to be ineligible for this fixture, although Arsenal's website does not comment on this.
Sanogo has one competitive goal for Arsenal, against a top quality opponent in Borussia Dortmund in November. Since then however he has not been able to add to the confidence he will have gained, as he suffered a short-term injury and has not been selected.
His last game was away at Galatasaray on December 9, in which he played all 90 minutes and did not score, but did register an assist.