Jenkinson, 23, joined the Gunners from Charlton Athletic back in 2011, and made a total of 57 appearances for Arsene Wenger's men before heading to West Ham on loan last summer.
With Wenger having the likes of Mathieu Debuchy, Calum Chambers and Hector Bellerin in his ranks, Jenkinson would have found first team football hard to come by at the Emirates Stadium, so made the short move to East London to play for West Ham - and the move couldn't have gone much better for him.
Jenkinson has been superb for Sam Allardyce's Hammers this season, producing consistent displays at right back and earning plenty of plaudits for his performances.
Naturally, West Ham will want to sign him permanently, given that he's still young and performing well at the highest level, with chairman David Gold hinting on Twitter on Saturday that a deal could be struck to keep him at Upton Park permanently.
However, the Daily Mail believe that Arsenal want a fee of £10m in order to part with Jenkinson - despite having a host of other options at the position.
West Ham will surely try to drive that price down somewhat ahead of the summer transfer window, as it's hard to really justify paying £10m for a right back.
Yet with his performances this season, West Ham should be pulling out all the stops to keep him on a permanent basis - especially considering that he doesn't appear to have much of a future at Arsenal anymore.