The Gunners have been previously linked with Alex Grimaldo but some other clubs are now leading the race.
The 27-year-old defender will become a free agent this summer and several European clubs would be gunning for his signature.
He has five goals and 13 assists to his name this campaign and will be a wanted man this summer.
Arsenal have Kieran Tierney and Nuno Tavares but both their future remains uncertain at the Emirates.
Both the defenders are struggling to compete for a place in Arteta’s XI and could be offloaded by Arsenal this summer.
Since his arrival at Benfica in 2016, the Spaniard has featured 291 times for the Portuguese side winning three league titles in the process.
He was reportedly offered to Mikel Arteta in the past but the Gunners boss chose Zinchenko over Grimaldo.
If Arsenal were to sign him this summer, they have to fight off competition from several clubs that will be playing in Europe next season.
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