The Bundesliga defender is reportedly available for as little as £12 million.
The centre-back is currently recovering from an ankle injury but that has not stopped a number of clubs being interested in his services, with Arsenal likely to face competition from several Italian teams if they do make any move.
Howedes has established himself as one of the Bundesliga’s top defenders since making his first team debut back in October 2007, becoming a lynchpin for the German side.
He was also an integral part of Jogi Low’s World Cup winning side in Brazil, with both his experience and ability to play centre-back and left-back a huge plus point for Arsene Wenger as he looks to strengthen his side.
The Gunners reportedly remain keen on him despite signing Gabriel Paulista in January, as concerns remain over the long-term fitness of Laurent Koscielny, who missed sizeable parts of last season with fitness issues.
The defender is currently contracted to the club until 2017, but would reportedly be available for around €17 million, which would be around £12.3 million - a bargain for a defender of his quality.
The Gunners would also likely be able to tempt him to the Emirates ahead of anywhere else, with his fellow Germany teammates Per Mertesacker and Mesut Ozil both already at the club.