The Gunners are said to be interested in the £40 million rated Porto winger.
Porto's Yacine Brahimi (L) and Rio Ave's Alhassan Wakaso in action.
The Gunners have been quiet this summer, with Granit Xhaka the only major arrival at the club so far.
That has caused anger at the Emirates, with fans worrying they are being left behind by the likes of Manchester City and Manchester United.
Borussia Dortmund's Lukasz Piszczek and FC Porto's Yacine Brahimi in action
It is hoped that Arsene Wenger will respond to the criticism by making big money moves before the end of the transfer window.
And it appears that a winger may be on their transfer list if this latest report is to be believed as according to the Mirror, they are eyeing a move for Porto star Yacine Brahimi.
He wants to leave the Portuguese giants and the report claims that they are willing to sanction a departure for £40 million.
Porto's Yacine Brahimi in action with Chelsea's Cesar Azpilicueta
Indeed, he was left out of their Champions League qualifier in midweek that may indicate his future is elsewhere.
Arsenal are not the only Premier League side to have registered an interest in the player though, with Chelsea and Liverpool also said to have considered a move.
Arsenal manager Arsene Wenger