The Gunners could make a move for the midfielder in the January transfer window.
Arsene Wenger’s squad has been decimated by injuries over recent weeks, with Santi Cazorla, Francis Coquelin and Mikel Arteta all picking up knocks.
That has left the Gunners short on numbers in central midfield, with many predicting they may move to resolve the situation in January.
And on their list is Elneny, with them having scouted the 23-year-old last season and them returning to watch him again this year according to the Mirror report.
He is not their first choice though, with Southampton’s Victor Wanyama thought to be top of their wanted list, but he would cost around £25 million.
Sporting Lisbon’s William Carvalho is also one they are tracking, but it would also likely take big money to secure him from Portugal as well.
Elneny though could be secured for around £5 million, making him a cheap solution to a big problem for the Gunners.
With Mathieu Flamini coming in to the side and impressing, and Aaron Ramsey pushing for a central midfield role also, Wenger may feel that a new midfielder is not needed however and look to strengthen elsewhere instead.