Arsenal have reportedly allowed young striker to continue his loan spell with La Liga club Real Betis beyond the terms of the current agreement between the two clubs, which will see the Costa Rican stay in Spain for another season.
The 20-year-old has made 21 appearances for Real Betis this season, during which he has found the net on two occasions, and Campbell has impressed enough at the Estadio Benito Villamarín to earn another campaign in Andalusia.
According to the Daily Star, Arsene Wenger has given his permission for Campbell to spend another year away from the Emirates Stadium, while they deal could be the first of many between Arsenal and Real Betis.
The two clubs will reportedly sign an official collaborative agreement that will see Arsenal send several of their young players to Spain in order to allow them to gain valuable first team football with Real Betis.
Arsenal's relationship with the Spanish club has been improved through the Campbell deal, and the youngster will eventually return to the Gunners have benefited from regular senior action that could not be afforded to him in north London.
Campbell has yet to make a first-team appearance for Arsenal having failed to gain a work permit when joining the Gunners from Deportivo Saprissa in the summer transfer window of 2011.