Arians is scheduled to fly to Indianapolis on Monday to review and sign the contract.
Team sources had told ESPN senior NFL analyst Chris Mortensen Jan. 22 that the Steelers let Arians' contract expire against the wishes of quarterback Ben Roethlisberger. The sources said Steelers president Art Rooney II wants the team to regain its blue-collar identity on offense.
Arians, 59, had been the only offensive coordinator in coach Mike Tomlin's five seasons with the Steelers. During his time as coordinator, he turned the Steelers from a run-first team to a pass-heavy one to better suit Roethlisberger.
Pittsburgh ranked in the top half of the NFL in offense during the past three seasons, but finished a disappointing 12th this past season.
Information from ESPN NFL Insider Adam Schefter and ESPN senior NFL analyst Chris Mortensen was used in this report.