The Gunners have been searching for a new transfer guru following Edu's exit in November.
Edu had spent five years at the Emirates Stadium having returned to the club in 2019.
Interim sporting director Jason Ayto had been a candidate for the role along with former Gunners midfielder Tomas Rosicky.
Former Manchester United sporting director Dan Ashworth was also linked with the role having suddenly left Old Trafford in December.
However, Berta is set to be handed the job.
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The Italian had been linked with joining AC Milan in recent weeks following his exit from Atletico Madrid.
Berta spent 12 years with the Spanish giants before leaving the club in January.
During his time with Atletico, Diego Simeone's side won six trophies including two LaLiga titles and the Europa League.
It is his transfer prowess which has caught the eye, though, after a string of high-profile deals in the Spanish capital.
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Berta completed the £16.5million signing of Rodri from Villarreal in 2018.
After 47 appearances, the midfielder was sold to Manchester City for £58million a year later.
Rodri has gone on to win 11 trophies with City, including the treble, and won the Ballon d'Or in October.
His devastating ACL injury has had a huge impact on Pep Guardiola's side, who are not going to defend their Premier League title and have been knocked out of the Champions League.
Berta also oversaw the sale of Antoine Griezmann to Barcelona for £99million in 2019 before re-signing him for £18million four years later.
His notable signings also include Joao Felix, Kieran Trippier, Luis Suarez, Julian Alvarez and Conor Gallagher.
Having started his career in his native Italy with Carpendolo, Berta has also worked with Parma and Genoa in the past.
He was also named 'sporting director of the year' at the Globe Soccer Awards back in 2019.
The award has also been won by former Tottenham director Fabio Paratici and outgoing City chief Txiki Begiristain.
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