The 27-year-old Frenchman tweeted “Today I am confirming my move to #Arsenal. I will be travelling to London for my medical shortly. Thank you for the memories Real!”
The post seemingly gained hundreds of retweets and favourites before it was deleted.
Arsenal fans were cheering as screenshots of the deleted tweet did the rounds on Twitter, but many others questioned whether it was real or a fake.
This photo is false, it's photoshop. #Benzema #Arsenal keep patient for the real official announcement pic.twitter.com/apxarZsZdD
— Alexis (@AlexisDun85) August 20, 2015
Arsenal have been chasing Benzema for a couple of years and see him as an alternative option to first choice striker Olivier Giroud.
Benzema was a key part of former Real Madrid coach Carlo Ancelotti’s first choice attack but rumours grew steadily stronger over the summer that he could be headed to Emirates Stadium for an estimated $102m.
Arsenal have only made one other significant signing this summer with former Chelsea goalkeeper Petr Cech joining the side.
Will Benzema be announced as Arsenal's second big signing, or were we all fooled by an elaborate online hoax?