The 29-year-old could face jail if he is found guilty of the chase, which happened the day before Arsenal's Premier League opener with Sunderland on Saturday.
Police are believed to have pursued Santos because the Brazilian was driving erratically, according to The Sun.
However, Santos is reported to have clocked speeds of 130mph as he attempted to get away from the police before eventually being arrested just 500 yards away from Arsenal's training base in Hertfordshire.
A source told the newspaper: "The allegation is that he was travelling at speeds up to 130 mph. Further enquiries are ongoing to verify the speed using on-board police cameras and technical equipment."
The defender must now answer bail next month and could possibly be jailed for up to two years if he is convicted of dangerous driving.