The Colombian hitman, 28, has hit 85 goals in 120 games for Porto since his his 2012 move from Mexican side Chiapas, including 25 goals already this term.
However, A Bola believe that Martinez wants a move to Arsenal instead, having been impressed with what Gunners boss Arsene Wenger had to say about him recently.
"He could play in the Premier League, Jackson Martinez, because he has the body to make the difference. He uses it in a very intelligent way, very short backlift and is a very good finisher," said Wenger, according to the Daily Express last week.
A Bola also note that Manchester United continue to monitor Martinez closely, with Louis van Gaal witnessing struggles from Robin van Persie and Radamel Falcao this season.
Martinez is a big, physical striker with a great combination of strength and speed - the attributes which saw him earn such glowing praise from Wenger.
He would almost certainly cost around £30m this summer, but having scored so many goals in Portugal, the time appears to be right for him to move on to a bigger club - and even after signing Danny Welbeck last summer, Arsenal could be a great landing spot for him.