French media outlet Foot Mercato, as quoted by Metro, is reporting that the Gunners will meet with the Belgium international's representatives this week to discuss a potential transfer.
Before United's campaign had ended, Jose Mourinho was confident that Fellaini was close to signing an extension.
"He knows I want him to stay, the club wants him to stay", Mourinho had said last month."He has an offer from us and it's up to him to say yes or no".
The Belgium global is out of contract after five years at Old Trafford and free to negotiate with interested clubs.
Fellaini has been selected in Belgium's World Cup squad and the Red Devils had hoped he would sign his extension before he travelled to Russian Federation for the World Cup. The 30-year-old is now on £80,000 per week.
Adding to it, Serie A side AC Milan have been credited with an interest as well, but Arsenal's entry in this speculation might disturb their plans.
The 30 year old Belgian has proven to be a useful player to have amongst the ranks, but the Brazilian Fred's arrival at Old Trafford will mean he's pushed further down the pecking order or surplus to requirements. PSG have also been linked with the imposing midfield general. This suggests a move could happen sooner rather than later.