The long-serving playmaker is set to leave the Emirates Stadium in the coming days on a free transfer.
Former Germany international Ozil, who was due to be out of contract at Arsenal in the summer, is in Turkey to finalise terms.
According to Spanish outlet AS, Ozil is to sign a three-and-a-half-year deal which is worth £3.5m a year, or around £67,300 a week.
That is a big decrease on the £350,000-a-week salary that he was earning in North London, where he has spent the past seven-and-a-half years.
However, the same report suggests that the 32-year-old is in line to earn various performance-related bonuses, including a £445,000 payment if Fenerbahce win the Super Lig title. body check tags ::