Black Cats boss Paolo Di Canio has lined up a move for his fellow Italian as he looks for a replacement for Simon Mignolet following his departure to Liverpool.
Mannone is well down the pecking order at Arsenal and since arriving from Atalanta in 2005 he has made just 15 appearances at the club.
The 25-year-old has has spells out on loan at Barnsley and Hull City twice during his time with the Gunners and he impressed during his time at the KC Stadium.
Sunderland are now ready to offer Mannone a permanent move away from Arsenal with talks at an advanced stage between both Premier League clubs.
Mannone is expected to hold talks with the Wearside club next week as Di Canio looks to lure him to the Stadium of Light.