Arsenal were heavily linked with a move for Higuain last summer, but the 26-year-old joined Napoli on a five-year contract for €40 million.
Now after just one season in Serie A, in which he scored 17 goals with seven assists in 31 appearances, Higuain could be on his way out of Italy.
FC Barcelona are keen to add to their already sensational strikeforce by bringing in the former Real Madrid man to partner his national teammate Lionel Messi as they look to reclaim their La Liga title from Atletico Madrid.
Italian journalist Carlo Laudisa of the Gazzete dello Sport has revealed that the Catalan giants have already had a €50 million offer rejected as Napoli president Aurelio De Laurentiis wants €70 million.
Higuain came off the bench for Argentina in their 2-1 win against Bosnia and Herzegovina in their World Cup opener and got the assist for Messi's excellent goal.
But it will take a huge offer to bring the Argentine striker in to play alongside Messi and Neymar in La Liga next season and Napoli are keen to keep hold of their forward.
Arsenal were chasing Higuain last summer and were hoping to add the prolific striker to their ranks but couldn't beat the Italian club to his signature.
It is unlikely that Arsenal will revive their interest with €70 million a huge amount of money to pay, an amount that Barcelona will have to offer if they are to bring Higuain back to Spain.