Bristol Rovers confirmed last month they were in talks with Arsenal and Everton over a possible deal for Macey.
A host of Premier League clubs are thought to have expressed an interest in Macey with Rovers resigned to losing their young prospect.
The 18-year-old impressed on trial at Arsenal in September and Arsene Wenger is now set to offer Macey a move to the Emirates.
Wenger sees Macey as one for the future with the Frenchman looking to bolster his goalkeeping options.
Macey is expected to sign a three-year deal at Arsenal with Rovers due a compensation fee for his services.