The Gunners could try to sign the winger in the January transfer window.
Manager Arsene Wenger may look to add to his squad in January to boost a potential title challenge in the second half of the campaign, with them currently sitting joint-top alongside Manchester City.
And that has led him to identifying Perotti as a potential recruit, with the Argentine being a player that the Frenchman has already tried to sign.
The Gunners were keen on signing him last summer but failed in a move, as reported by TMW. That has not put Wenger off, though, and he will try one more time to get his man.
One potential stumbling block, however, could be the fact he has only recently signed a new contract with the Italian side.
Many would also question whether they need the player, with them boasting a number of attacking options like Mesut Ozil, Alexis Sanchez, Alex Oxlade-Chamberlain and even Joel Campbell all competing for places on the wings.
But Arsenal are short of naturally left-sided players, with Sanchez the only one looking comfortable in that role.
That could make a move Perotti a sensible one, although he would likely only be a back-up option at best given the fine form Sanchez and the rest of the Gunners side have enjoyed thus far.