The Sunday Mirror reports that the Danish striker is set to leave the Gunners this week.
The 24-year-old has been strongly linked with both AC Milan and Galatasaray.
Arsenal boss Arsene Wenger want around £7.5million for the highly-rated Denmark international striker.
Bendtner joined the Gunners eight years ago, but has failed to make the expected impact and has had loan spells at Birmingham and Sunderland in recent seasons.