The 27-year-old Zenit St. Petersburg player grabbed the attention of top European clubs including Barcelona and Arsenal after leading the Russian attack in impressive victories over Sweden and Holland in the European championship. The Spanish club has reportedly put in an offer of around $24 million.
However, Russian tabloid Tvoi Den cited a source close to negotiations with Abramovich's club as saying: "Andrei has just agreed all details of a personal contract with the London club. In the near future, the clubs [Zenit and Chelsea] will sign all documents necessary to close the deal. Andrei will fly to London, where he will undergo a medical and put his signature to a contract."
The Russian playmaker, who helped Zenit St. Petersburg to victory in the UEFA Cup in May, had earlier said he wanted to move to Barcelona.
However, the 3-0 drubbing Russia received against champions Spain in the Euro semi-finals, in which Arshavin was rendered powerless by an impenetrable back line of La Liga defenders, sparked speculation that the Spanish club would be unwilling to pay such a large sum.
Britain's The Sun reported that London's Arsenal FC has put in a rival bid for Arshavin.
