The 16-year-old youth international was reportedly chased by other Premier League sides.
The report in the Sun states that the 16-year-old has agreed a move from Lillestrom after the London club's scouts were impressed in a recent international match against England Under-16, and that Arsenal beat Premier League rivals including Manchester United to his signature.
Sandberg captained his side in that fixture, and is reportedly set to sign scholarship terms with the deal subsequently becoming professional when he turns 17-years-old.
The Gunners have a long history of signing Nordic players, both as youngsters and as established internationals. Dane John Jensen is a folk hero at the Emirates, Nicklas Bendtner less so, while Swedes are particularly well represented by the likes of such as Anders Limpar, Stefan Schwarz and Freddie Ljungberg.
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Not many Norwegians have featured for Arsenal however, though new West Ham signing Havard Nordtveit did spend some time with the reserve teams before making his breakthrough in Germany.
Manager Arsene Wenger is famous for his desire to work with the most talented young players and discipline them in the Arsenal style of football, and the club have consistently brought in youngsters from across the globe so that the academy is as strong as can be.
Though the likes of Sandberg are unlikely to be making any kind of impact on the first team any time soon, his is a name to keep an eye out for - while waiting for the Gunners to sign a first team player of course.
Arsenal manager Arsene Wenger