The highly-rated England Under-21 international still has two years left on his Arsenal contract, but is struggling to make a breakthrough with Arsene Wenger's side.
Chuba Akpom of Arsenal celebrates
And Leeds and Celtic are reportedly ready to take him off their hands on a permanent basis.
Leeds are expected to lose last season's top scorer Chris Wood to Burnley this week, in a deal which is rumoured to be worth around £15 million.
Celtic meanwhile are said to be keen to strengthen their existing strikeforce, which comprises Leigh Griffiths and Moussa Dembele - and will no doubt have one eye on life after the latter, who has been linked with a string of Europe's top clubs.
Akpom has been with Arsenal since the age of six, but has only made 10 senior appearances for the Gunners, who have farmed him out to six different Football League clubs on loan.
Chuba Akpom of Hull City celebrates
The 21-year-old was part of Hull City and Brighton sides promoted from the Championship over the past two seasons, but only scored three goals in 46 combined league appearances.
Is Akpom a good option for Leeds United / Celtic?