Schwarzer, 37, has been heavily linked with the Gunners all summer as Arsene Wenger's side are in need of an experienced keeper with the inconsistent performances of Manuel Almunia and Lukasz Fabianski called into question at the end of last season.
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Australia international Schwarzer has been an ever-present at Craven Cottage since joining from Middlesbrough in 2008, helping the Cottagers reach the Europa League final last season.
New Fulham boss Mark Hughes has tried to convince Schwarzer to stay, but the keeper has made it clear that he wants the opportunity to play in the Champions League and challenge for major honours at Emirates Stadium.
Speaking to the Australian Daily Telegraph, he said: "I need it to happen. I've had a couple of chats with Mark Hughes and it's delicately poised.
"Who wouldn't be keen to go to Arsenal? At this stage in my career it's an amazing opportunity to play at that level and one I really want to take.
"It's taken a long time. On one hand you understand them not wanting to disrupt too many things, but I want things resolved as quickly as possible.
"Only time will tell whether that happens or not."
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