The Gunners snapped up the Republic of Ireland youth international from Norwich in the summer of 2010, with academy chief Liam Brady spotting his potential.
The 18-year-old is held in high regard at the Emirates, but needs game time before he will be in a position to challenge for a first-team role.
With that in mind, Arsenal have agreed to let Roberts link up with Scottish Premier League side Inverness in a deal which is set to run until January.
He impressed during a behind-closed-doors friendly for Caley Thistle last week and a loan agreement is set to be pushed through before Friday's transfer deadline.
"Arsenal have agreed to let Philip sign for us until the next transfer window and we're very grateful for their help," said Inverness boss Terry Butcher.
"This is the beginning of a partnership with Arsenal that will help their younger players gain first-team experience with Inverness Caley Thistle in this season and the future.
"I am extremely thankful to Liam Brady for his first-class help and assistance.
"Philip has had a look at our set-up, met the lads, and has agreed to join is. He showed good promise when training with us.
"The paperwork has not been completed yet, but we're hopeful it will all be done in time for him to be registered before Friday's deadline."