The 24-year-old seemingly has no future in North London under Mikel Arteta, who has sanctioned two temporary exits for the Belgium international since he fell down the pecking order.
Lokonga firstly managed to reignite his career at Crystal Palace, albeit for a very brief period when Patrick Vieira was in charge, and he was demoted to a bit-part role under Roy Hodgson.
The ex-Anderlecht man made an impact in the Luton Town midfield alongside the reinvigorated Ross Barkley last season, coming up with one goal and three assists in 19 games, but his efforts were not enough to keep the Hatters in the top flight.
Lokonga still has two years left to run on his Emirates contract, but even though the Gunners are looking for midfield reinforcements this summer, he will not be given the chance to prove himself to Arteta in pre-season.
Lokonga gives thumbs-up after Sevilla arrival
Instead, the midfielder will spend the 2024-25 campaign on loan with Spanish giants Sevilla, who also possess the option to make his stay permanent for around €12m (£10.1m).
The Gunners are also thought to have agreed a 25% sell-on clause should Lokonga join Sevilla permanently, and the Belgium international only had eyes on a switch to Spain despite a higher offer from Italian giants Fiorentina.
Earlier on Friday, Lokonga was greeted by members of the media as he touched down in Spain prior to his medical, and the smiling Belgian posed for photographs in front of Sevilla artwork, which featured an image of Jesus Navas lifting the Europa League trophy.
The Arsenal man gave a thumbs-up and looked in good spirits ahead of signing his Sevilla contract, and an official announcement from both clubs is not believed to be too far away.
Lokonga has failed to register a goal or assist in 39 appearances for Arsenal, who signed him for €17.5m (£14.7m) from Anderlecht in the summer of 2021 after the midfielder plied his trade under Vincent Kompany.
Lokonga loan to begin Arsenal exodus?
The Belgium international will become the fourth player to leave Arsenal this summer, as Cedric Soares, Mohamed Elneny and Arthur Okonkwo - who has since joined Wrexham on loan - departed upon the expiration of their contracts.
A plethora of other unwanted names are expected to follow Lokonga out of the door in due course, including unwanted left-back Nuno Tavares, who is on the brink of joining Lazio on an initial loan deal, which will become permanent for around £7m next summer.
Fellow full-back Kieran Tierney - who spent the 2023-24 season on loan with Real Sociedad - should be on the way out too, while Jakub Kiwior may follow suit if a deal for Bologna's Riccardo Calafiori can be wrapped up.
Emile Smith Rowe, Reiss Nelson and Eddie Nketiah represent three home-grown products who could leave for pure profit, and bids should also be entertained for Aaron Ramsdale and Thomas Partey.