The 19-year-old arrived at the Emirates from Sao Paulo in the summer transfer window, and he made an immediate impression at Under-21 level.
Marquinhos registered three goals and an assist in his first two matches in the Premier League 2, and he was soon promoted to Mikel Arteta's first team after Arsenal decided against loaning him out in the summer.
Marquinhos's senior debut was also a positive affair, as he scored and set up Eddie Nketiah in a 2-1 Europa League win over FC Zurich, and he has since made five more appearances for the Premier League leaders.
However, the Brazilian teenager has only played one minute in the Premier League as a late substitute against Brentford, and he has failed to come off the bench in the Gunners' last six top-flight games.
Following the January arrival of Leandro Trossard, Arsenal have been exploring loan options for Marquinhos for the remainder of the season in order to increase the attacker's playing time.
According to Express journalist Ryan Taylor, the South American is now poised to join Championship promotion hopefuls Norwich on loan before Tuesday's transfer deadline.
Taylor adds that Marquinhos has been given the thumbs up to undergo a medical with the Canaries, and there is optimism that a deal can be finalised within the next 24 hours.
David Wagner's side will not have the option or obligation to make Marquinhos's stay at Carrow Road permanent, with the 19-year-old still contracted to Arsenal until 2027.
Arsenal beat Wolverhampton Wanderers to the €3.5m (£3.1m) signing of Marquinhos from Sao Paulo in the summer, and he joins Norwich following Todd Cantwell's exit from Carrow Road for Rangers.
Since starring on his debut against Zurich, Marquinhos has failed to break up the established order of Bukayo Saka and Gabriel Martinelli out wide, while Emile Smith Rowe has also made his long-awaited return from groin surgery.
Reiss Nelson and Fabio Vieira can also cover for Saka on the right-hand side of the attack, while the signing of the versatile Trossard has also increased competition for places in the final third.
Arsenal could also allow right-back Cedric Soares to depart before Tuesday's January deadline, with the 31-year-old still in talks over a loan move to London rivals Fulham.
However, the Cottagers are planning to make Shane Duffy's loan from Brighton & Hove Albion permanent before bringing in Cedric, as Premier League clubs cannot have more than two loan players registered at any one time.
Duffy and Leeds United's Daniel James are currently on loan at Craven Cottage, meaning that at least one of those deals would have to be made permanent for Cedric to join.