The Premier League club said Tomiyasu agreed a "long-term" contract, believed to be an initial four-year deal with the option of a further season's extension.
The 22-year-old can play both centre-back and right-back, giving Arsenal boss Mikel Arteta another option after Hector Bellerin's loan move to Real Betis.
Tomiyasu made 63 appearances for Serie A side Bologna over the last two seasons.
He has played 23 times for Japan and was a member of their recent Olympic squad, making three appearances at the Tokyo Games.
"Takehiro is a strong defender with good experience in Serie A and at international level," Arteta said.