Arsene Wenger is said to be keen on bringing Lyon's Algerian winger Rachid Ghezzal to the Emirates Stadium when his contract expires at the end of this season.
Although Lyon this week completed the signing of Memphis Depay from Manchester United - bolstering their attacking options from the wing - it is said that the French club still wish to offer the 24-year-old a new deal.
However, reports suggest that the player's representatives are already holding talks about a potential switch to North London.
Despite making it into the first team at the Ligue 1 side on quite a regular basis, the winger is now ready to move on from the club, a place the Algerian International has made over 75 appearances since he broke into the side back in 2012.
And it is not the first time that the Lyon winger has been the subject of speculation over a move to the Premier League. In the summer it is believed that the attacking wide-man came close to agreeing on a deal for a switch to Goodison Park in order to link up with Ronald Koeman at Everton.
Ghezzal is currently away on international duty at the African Cup of Nations and is not expected to move during the January transfer window.
Should Arsenal refuse the winger's approach to sign for the club, Everton are said to considering making a renewed offer, but they could face stiff competition from title challengers Monaco.