The Arsenal-owned center forward will be spending the remainder of the 2021-2022 season on loan at Boro who beat off competition from a plethora of clubs in England and abroad to secure his services.
Balogun is represented by Nigerian agent Emeka Obasi, who also handles the affairs of three Super Eagles players currently starring at the Africa Cup of Nations in the shape of Joe Aribo, Ola Aina and Alex Iwobi.
The 20-year-old is undertaking his first loan spell away from Arsenal, twelve years after joining the north London club from Aldersbrook.
He progressed through the youth system at Arsenal before making his senior debut in a Europa League clash against Dundalk in October 2020.
Speaking on his new signing, Boro boss Chris Wilder said: "We’re delighted to get Flo in. He's a player I've known about for a long time and we identified him as someone who could come in and improve us in the second half of the season.
"He has great movement, good pace, and he's a natural finisher. We're looking forward to working with him".
Balogun links up with Uche Ikpeazu, Toyosi Olusanya, Sammy Ameobi and Sam Folarin at Boro.
Ifeanyi Emmanuel
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