The Poland international has made 38 competitive appearances since joining Arsenal from Italian side Spezia in January 2023.
Kiwior had to settle for 11 starts in 20 Premier League matches last season while failing to feature in six of the club's final nine top-flight fixtures.
Although he is not a guaranteed starter under Mikel Arteta, he has proven to be a useful member of the Arsenal squad, largely due to his versatility.
Kiwior has widely been used as a left-back since arriving in North London, but he has also been utilised as a central defender on a number of occasions.
Arsenal open too Kiwior exit
However, according to Fabrizio Romano, the Gunners will consider sanctioning Kiwior's departure if they receive an enticing proposal this summer.
They are willing to listen to permanent transfer bids, but they will also consider loan offers as long as they include mandatory buy options.
Arsenal's stance over Kiwior's future is believed to be influenced by the impending arrival of Bologna defender Riccardo Calafiori.
The Gunners have already agreed personal terms with the Italy international and are now hoping to complete a deal in the near future.
Like Kiwior, Calafiori can play as a central defender or as a left-back, and his arrival would knock the 24-year-old down the pecking order at the Emirates Stadium.
Could Kiwior return to Italy?
While Arsenal have received no formal proposals for Kiwior, there is understood to be interest from clubs in the Italian top flight.
As per Alfredo Pedulla, Serie A champions Inter Milan are among the clubs who are keeping tabs on the Arsenal defender.
Inter boss Simone Inzaghi would most likely use Kiwior on the left side of a back three, but there is no guarantee that he would be a regular starter at the Italian club.
Inzaghi can already call upon a number of top-quality defenders, including Alessandro Bastoni, Francesco Acerbi and Stefan de Vrij.