Over the summer, it was reported that Premier League new boys Southampton had shown an interest in bringing the 18-year-old to the Premier League, but they had a £10m offer rebuffed.
The 2006-born starlet is the latest product to emerge from the highly-rated Palmeiras academy and is starting to make waves in the first team, scoring once in three appearances so far.
Luighi's first goal at senior level came off the bench in a 1-1 Brasileiro draw with Flamengo in August, but he has not played for the first team since, instead continuing his development at youth level.
Luighi has caught the eye for the Under-20s too, scoring 10 times in 13 appearances, and he has also earned a call-up to the Brazil Under-20 squad, although he is still waiting to make his Selecao debut at that level.
Arsenal 'quoted £67.3m' to sign Luighi
According to Nosso Palmeiras, the youngster's feats in his homeland have now attracted the attention of Arsenal, who like Southampton also tried to sign Luighi during the summer transfer window.
However, Arsenal's unspecified bid was turned down by the South American giants, who inserted an €80m (£67.3m) release clause into his contract when he put pen to paper in July.
Luighi's terms are not due to expire until New Year's Eve 2028, leaving them under no pressure whatsoever to sell the striker on the cheap, and they are not thought to have any plans to accept any bids.
Palmeiras apparently view Luighi as a central figurehead of their team for the 2025 campaign, and if he were to leave, the club's sporting project could be significantly impacted.
Primarily a centre-forward, Luighi is also comfortable playing on the left-hand side of the attack, and his arrival at Arsenal would fill the void left by the exit of one highly-rated youngster.
Could Luighi replace Chido Obi Martin at Arsenal?
If reports are to be believed, Arsenal were touching base over a deal for Luighi around about the same that they were trying - and failing - to tie Chido Obi Martin down to a new deal.
The Denmark youth international - who scored a fabulous 32 goals during the 2023-24 campaign - ultimately decided that the pathway to the first team was clearer at Manchester United than the Emirates.
Obi Martin has already scored three goals and set up two more for Man United's Under-18s in 2024-25, and while Luighi's numbers are not so prolific, he would be a like-for-like replacement for the 16-year-old.
Poaching the Brazilian from Palmeiras would also see Arsenal copy the Chelsea strategy, as the Blues have also used their South American connections to poach 2007-born Estevao Willian from the club, although he will not officially arrive until 2025.