Youri Tielemans has just a year left on his Foxes contract.
The Belgian midfielder moved to King Power Stadium in 2019 for £32million before spending a six-month loan from Monaco.
He has been an instrumental figure for the Foxes and helped them win the 2021 FA Cup final.
He has already made 158 appearances for the Foxes and could be available for only £25million this summer with only a year remaining on his current contract.
He has 49 caps for his national side Belgium and has a catalogue of experience under his belt.
Former Spurs striker Darren Bent has urged Arsenal to make a move for the 25-year-old midfielder.
“If he was to leave, I would like him to come to Arsenal. I really like him, Youri Tielemans,” Bent told talkSPORT.
“I think he is a very good player, he starts in that Belgium team as well. He has got good quality to him. I think he fits in at Arsenal nicely, I really do.”
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