The Gunners looked to have missed out on the 29-year-old earlier in the evening after Everton rejected a bid for their star midfielder.

However, Arteta reportedly forced the issue and Arsenal looked to have reached an agreement with their Barclays Premier League rivals before the 11pm deadline and penned a four-year contract at the Emirates Stadium.

The Spaniard will be joined in north London by three other deadline day signings, including Fenerbache left-back Andre Santos and Werder Bremen centre-back Per Mertesacker.

Israel international Yossi Benayoun has also moved to the Gunners on a season-long loan from Chelsea, who secured a late signing themselves.

While a moves for Porto's Alvaro Pereira and Tottenham's Luka Modric did not come to fruition, Andre Villas-Boas managed to secure a late deal for Liverpool midfielder Raul Meireles.

In an eerie echo of Fernando Torres' £50million January switch, the Blues left it until just before the deadline to complete a deal for the Portugal international.

Like Torres, the midfielder submitted a written transfer request tonight, with Liverpool also agreeing a fee with Chelsea reportedly in the region of £12million.

Several players left Stamford Bridge yesterday, with Gael Kakuta and Patrick van Aanholt joining Bolton and Wigan on season-long loans, while new signing Ulises Davila penned a similar deal with Vitesse Arnhem.

Recently-promoted QPR continued their spending spree since the recent takeover by Tony Fernandes.

Shaun Wright-Phillips joined from Manchester City and a deal was secured for Sunderland defender Anton Ferdinand, although the club has yet to confirm whether a loan deal for Southampton winger Jason Puncheon was completed in time.

Fellow west London outfit Fulham brought in three signings themselves on deadline day.

Juventus defender Zdenek Grygera penned a one-year in the afternoon, before completing moves for Porto striker Orlando Sa and highly-rated FC Twente attacker Bryan Ruiz.

The Cottagers had to fight off stiff competition from Newcastle for the Costa Rica international, although they have confirmed his signature for a fee believed to be in the region of £10.6million.

While the Tynesiders were thwarted in attempts to bring in new recruits, fellow north-east outfit Sunderland managed to secure the signing of Arsenal striker Nicklas Bendtner on a season-long loan.

Another out-of-favour attacker on the move was Craig Bellamy, who completed a shock return to Liverpool on a two-year deal from Manchester City.

Joe Cole left Anfield to join French champions Lille on loan, while Denmark international Christian Poulsen also moved to France to join Evian.

David Ngog also left Liverpool to join Bolton, penning a three-year deal at the Reebok Stadium.

Elsewhere on Merseyside, Everton completed two loan signings on deadline day.

Royston Drenthe was drafted in from Real Madrid for the season, while Denis Stracqualursi joined from Argentinian side Tigre.

Manchester City completed the shock signing of Owen Hargreaves on a one-year deal following his release by cross-city rivals United.

Tottenham were thwarted in their attempts to sign Bolton defender Gary Cahill, but managed to bring in Scott Parker from West Ham.

Most of the talk at the north London club, however, involved players leaving.

Alan Hutton penned a deal until 2015 with Aston Villa, who also completed the signing of Jermaine Jenas on a season-long loan, while David Bentley joined the Hammers on loan.

Spurs duo Peter Crouch and Wilson Palacios completed permanent transfers to Stoke, who also signed Birmingham striker Cameron Jerome on a four-year contract for an undisclosed fee.

Blackburn completed the double signing of Birmingham defender Scott Dann and Everton striker Yakubu, while Shaun Maloney joined Lancashire rivals Wigan from Celtic.

Recently-promoted Swansea made three signings, bringing in Daniel Situ from Lens and free agents Gerhard Tremmel and Federico Bessone.

West Brom's Pablo Ibanez dropped down to the Championship to join Birmingham, while Everton striker Jermaine Beckford also dropped down a league to link up with Leicester.