The Nigeria international has informed Atalanta management he intends to leave at the end of the season.
The former Everton and Fulham winger has been linked with Barcelona.
However, a return to England could be on with the Gunners keen, says Sky Sports.
And a move back to London could tempt Lookman, who is also interesting Arsenal's Champions League semifinal opponents PSG.
Related：
Arsenal
Paris Saint-Germain
Atalanta
Lookman
ttttttttttuser
8
Look man is a very good player. Real Madrid should try and get him. Even though Vinicius is better than him, but he's more dedicated to the game than Vinicius plus he's also very good. VINICIUS spend his whole time arguing on the pitch