Juventus are reportedly interested in the Arsenal forward.
The Italian champions were rocked this summer as Real Madrid activated an option to bring the Spanish striker back to the Bernabeu.
They will now be in the hunt for a replacement for him in this transfer window, and Sanchez could be one man they target.
According to Tuttosport, they believe that the Chilean star is the ideal replacement for Morata and would be a suitable addition to their attacking line up.
And Camoranesi has backed that idea, saying it would be a good opportunity for both the player and the club.
“I heard that it could be Alexis Sanchez. He knows the Italian football,” the former Italy international told Goal.
“He has the speed to cause problems for opposition defences, he will be joining a team with a winning mentality and I think it can be a great opportunity for him and Juve could get more out of him.”
Even if Juventus are interested in Sanchez this summer it would take a big offer for the Gunners to consider selling him.
He is among the key men at the Emirates Stadium and remains so despite a disappointing second season for him last year.
If Arsenal are to challenge next season then they will need to add to keep hold of players such as him and Mesut Ozil and a sale is extremely unlikely at this point.