The 27 year-old Spanish international has made 45 appearances for his country, and has the pedigree to be a huge signing for us.
Arsene Wenger says:
"Santi Cazorla is a great signing for us. He is a player with good experience at both club and international level, who will add significant quality to our squad.
"He is a versatile, attacking midfield player who can play comfortably on either side of the pitch or centrally. He has good pace, is technically gifted and will be a huge asset to Arsenal Football Club.
We are delighted that he is joining us."
We're knocking a hole into August now, so there's plenty of room for other alterations to the squad, be they arrivals or departures. The key question on Gooners' minds now is what of Robin van Persie?
Yes we've all read that he's on his way to Juve, and that both Manchester clubs have shown an interest, but as far as we know there's been no confirmed flood of bids for the player.
I'm inclined to believe that he doesn't want to leave, but simply wants a big payday ahead of retirement. He's happy in London, his kids are happy in their schools, so from a personal point of view it's hard to build an argument for him leaving the capital.
The squad strengthening that's taking place might also convince him that we can challenge for honours this coming season (it's convincing me, but what do I know?).
The permutations of Rvp, Podolski, Giraud, and now Cazorla are mouthwatering. The Ox and Theo will also be in the mix, giving us considerable options up front.
Until the new season gets underway we're just going to have to play a waiting game though...