However, very recent reports are suggesting that the player might not be ready to move in January but will much rather wait till the the end of the season to switch clubs.
The transfer rumour started last summer and got intensified when the Paris bombings happened after which the player expressed his desire to leave Paris Saint-Germaine but it looks like he might be willing to stay after all.
Arsenal might however have to come up with £47million to get the player and they will definitely face competition from Real Madrid, Manchester United and Bayern Munich.
Arsenal are also said to be in pole position to sign Inter Milan star Marcelo Brozovic.
Although the 23-year-old player is actually on loan at Inter from Dynamo Kiev but the San Siro club are looking ready to sign the player and sell him to Arsenal for a fee of £18.4million.
However, it all remains to be seen who Wenger will sign after all and when and if he will before the transfer window opens or closes in January.