The Norwegian international completed his move to the Emirates on Wednesday morning, becoming Mikel Arteta’s second signing of the month after Brighton goalkeeper Mat Ryan also joined on a temporary basis.
Odegaard’s arrival will see the 22-year-old provide competition to Emile Smith Rowe in the No10 position but it is the No11 shirt which he will inherit.
That number has been vacated by Uruguayan midfielder Lucas Torreira, who is currently out on loan at Spanish side Atletico Madrid.
Prior to Torreira, Arsenal’s last No11 was Mesut Ozil, but the German switched to his preferred No10 in 2018, though that jersey is now unclaimed after he left the club to join Fenerbahce earlier this month.
Speaking to the Arsenal website, the club’s technical director Edu said: “We are delighted to welcome Martin to the club until the end of the season. I would like to thank everyone at Real Madrid and Martin’s representatives for their collaboration in making this loan move happen.
"Martin is an exceptional talent and we are strengthening our squad by introducing an exciting offensive player to the club for the remaining months of this season.”