Apart from a brief loan spell with Leeds United in 2019, Nketiah has spent his entire senior career with Arsenal after joining the club's academy from Chelsea in 2015.
The 25-year-old has gone on to make 168 competitive appearances for the first team, scoring 28 goals and providing seven assists.
Nketiah started seven of Arsenal's first eight Premier League games last term, but he soon dropped down the pecking order below Gabriel Jesus and Kai Havertz.
After finishing the campaign with just 10 top-flight starts, Nketiah is open to leaving the club to gain regular playing time elsewhere.
Arsenal reject Marseille's latest Nketiah bid
Marseille have emerged as the frontrunner to secure Nketiah's signature, having already made several additions to their squad this summer, including the signing of forward Mason Greenwood from Manchester United.
The French side have identified Nketiah as a potential replacement for Pierre-Emerick Aubameyang, who has encouraged his former Arsenal teammate to complete a move to Ligue 1.
Nketiah has already agreed personal terms with Marseille, paving the way for the two clubs to negotiate a transfer fee.
According to journalist Fabrizio Romano, Arsenal have turned down Marseille's latest offer which is said to be in the region of €27m (£23m).
How much do Arsenal want for Nketiah?
Different reports have suggested that Arsenal could demand £40m to £50m for their academy product, whose sale would help the club avoid any potential issues regarding the Premier League's Profit and Suitability Rules.
However, according to the Daily Mail, the Gunners are looking to receive £30m for a player who is under contract until June 2027.
Arsenal's asking price is similar to the recent deal they agreed with Fulham over the sale of another academy graduate Emile Smith Rowe.
On Friday, the Cottager confirmed they had signed the midfielder after the two clubs reached an agreement over an initial £27m fee plus an additional £7m in add-ons.