Ipswich have signed striker Chris Wood on loan from Leicester until the end of the season.
Watford have announced the signing of Italy international Marco Motta, subject to international clearance.
The Cottagers revealed the move for the 21-year-old on their official Twitter feed, with Frimpong also acknowledging it by writing: "Fulham here I come".
Frimpong has been with Arsenal since he was nine but did not make his Premier League debut until August 2011 after a succession of injuries.
Fitness problems also cut short a loan spell with Wolves last season, with Frimpong needing surgery after rupturing knee ligaments against QPR.
He went on loan to Charlton at the end of 2012 and will now see out the season with Martin Jol's men.