Despite his imminent departure the 28-year-old remains a vital part of the Arsenal midfield and replacing him will be high on Unai Emery's transfer agenda this summer as he looks to make the Gunners title challengers once again.
Below are eight players who could be in line to replace Ramsey in the Arsenal engine room next season.
The 22-year-old is attracting interest from many of the big clubs around Europe following two excellent seasons in the Lyon midfield and he could be a perfect fit at the Emirates.
Ndombele is a more physical presence than the departing Welshman, something many pundits believe Arsenal currently lack, although his scoring record does not come close to matching Ramsey's, with the French international only netting six goals in his career so far.
The Manchester United man's contract is up this summer and has yet to be extended by the Old Trafford club, meaning he could be available on a free transfer this summer.
Reports are that Herrera already has a pre-contract agreement in place with Paris Saint-Germain but if Arsenal are able to swoop in they would be getting an experienced player who, alongside Lucas Torreira in the midfield, would allow their forward players to go and express themselves, knowing they have a solid base behind them.
The 21-year-old Belgian has excelled on loan at Leicester City since joining in January and would help replace the goals and assists that Ramsey provides.
Tielemans has scored twice and assisted three more in just eight games since arriving at the King Power Stadium. The Belgian could for around £40m; a bargain in the current market.
The Lyon skipper was on the verge of joining Liverpool for £53m last summer and is reportedly available again this summer following year another stellar season in Ligue 1.
The World Cup winner has bagged 12 goals and seven assists this campaign and would surely link well with French compatriot Alexandre Lacazette and Pierre-Emerick Aubameyang in the Arsenal attack. Similarities in playing style with Mesut Ozil could prove to be an issue, but Fekir may well be worth the risk.
The 22-year-old has been superb in his first year in the Premier League, gaining international recognition with England as well as scoring seven times and assisting six more.
He does not have the same amount of energy as Ramsey and is certainly not as strong defensively, however Maddison is deadly from set pieces and may end up being even more prolific than the man he could replace.
The PSG midfielder has been left out in the cold in Paris since refusing to sign a new contract, and is due to leave the club on a free transfer this summer.
Adrien Rabiot was a key part of Emery's midfield while the Spaniard was in charge at the Parc Des Princes, and the Frenchman's quality on the ball combined with his physical presence could make him a perfect signing for the Gunners this summer.
The Napoli playmaker has been in excellent form this season for the side currently second in Serie A, and his potential new employers have the perfect opportunity to evaluate the Poland international as Arsenal face Napoli in the Europa League on Thursday night.
Two good performances in those ties may see the Gunners firm up any interest they may have, and Zielinski may well be seeking a new challenge having spent his entire career in Italy.
He may not be a new signing but the best man to replace Ramsey may well already be at the club. Ainsley Maitland-Niles has shown his versatility since breaking into the Arsenal first team but he came through their ranks as a central midfielder and he has all the qualities to be a success in that position.
He has the ability to get up and down the pitch with ease, as he has shown when filling in as a wing-back, and his technical prowess is clear every time he plays. If he gets a run in midfield he could prove to be the right man to replace his current teammate.