Thomas Partey will be used in part-exchange deal to sign Dusan Vlahovic from Juventus.
The Gunners are keen on signing a new centre-forward this January and has identified Dusan Vlahovic as one of their limited targets.
The 23-year-old Serbian has been phenomenal this season registering four goals and an assist in ten league matches this season.
Arsenal has been impressive with their signings this summer bringing in Declan Rice, Kai Havertz, David Raya and Jurrien Timber.
But Mikel Arteta needs a striker to help the club guide to their first title since 2004 as they are just a point behind Man City in the league rankings.
Several top European clubs including Arsenal and Manchester United are interested in Dusan Vlahovic as both clubs are in dire need of a No.9 this January.
Juventus are not interested in selling one of its prized assets but would be tempted if Arsenal included one of their players in the deal.
The Serie A giants are keen on signing a new midfielder and identified Thomas Partey as one of their key targets.
If Arsenal structures a deal that sees the Ghanian midfielder join the Old Lady and Vlahovic make his switch to the Emirates, Juventus could accept an offer for the Serbian.
His wages at Juventus are set to increase year upon year and it would be financially unviable for the Old Lady to keep him beyond next summer.
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