The Nigeria forward who plays for the London club will be offered a new bumper contract.
after just six month of signing the current contract.
Iwobi has been impressive ever since he made his Arsenal debut in 2015 and Arsenal have however made the move to secure the future of the 20-year-old by offering him another deal, just six months after the last contract.
In April 2016, the forward signed a £25,000-a-week deal after an impressive first season with the senior side.
His new contract is expected to take his weekly pay to £50,000-a-week.
Along with his fast rise in football, Iwobi is now a full Nigeria international having made his competitive debut for the Super Eagles earlier in 2016.
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