Mahrez, 26, has already announced his intention to leave the Foxes this summer.
That’s despite signing a new four-year deal at the King Power Stadium only 12 months ago.
Arsene Wenger has made no secret of his admiration for the Algeria international.
The Gunners have consequently been linked with a move to take Mahrez to the Emirates.
And, according to the Daily Mail, he would be more than happy to head for north London.
Mahrez could become Arsenal’s third signing of the summer following the arrivals of Alexandre Lacazette and Sead Kolasinac.
He was named PFA Player of the Year after helping Leicester win the 2015/16 Premier League title.
But the forward played out a quieter campaign last term, scoring 10 goals and assisting seven in 48 appearances across all competitions.