Arsenal are seeking to sign midfielder Charles Aranguiz, according to Chilean website PrensaFutbol.
The midfielder is represented by the agent of Alexis Sanchez, Fernando Felicevich, who re-posted the report on his Twitter account.
Aranguiz, 25, is a central midfielder who featured for Chile at last summer's World Cup, playing in the win over Spain.
He currently plays for Brazilian side Internacional, where he has a contract until 2018.
The PrensaFutbol report states: "Arsene Wenger would be interested in having the services of the 'Prince' to strengthen the midfield the Gunners next season. French coach regularly receives reports on the performance of the midfielder."
If Arsenal did sign him, they would be buying a player who certainly knows how to take a penalty. He scored one of the spot-kicks of the tournament in the World Cup shootout defeat against hosts Brazil.
Aranguiz would certainly be an interesting addition to Arsenal's team. He has the tenacity of Alexis Sanchez in midfield, but is not a typical defensive midfielder, more like Aaron Ramsey with his ability to combine defence and attack.
With question marks over the futures of Mathieu Flamini and Mikel Arteta as their contracts reach their final years, a player like Aranguiz could be a relatively cheap addition and provide energy in an area to the squad which has been affected by injuries to Jack Wilshere and Aaron Ramsey this season.