The Gunners have been alerted to the availability of the Algeria international who wants to leave Porto and was left out of its Champions League squad but would cost £40 million.
Arsenal has turned its attention to Yacine Brahimi after missing out on Riyad Mahrez, according to the Sunday Mirror.
The Algeria international was left out of Porto's Champions League squad in midweek and is keen to leave the club, with Liverpool and Chelsea also interested.
Porto is willing to sell Brahimi for 40 million pounds ($52.3M) and Arsene Wenger is considering a move after Mahrez signed a new deal wit Premier League champion Leicester City.