The 25-year-old is third in Mikel Arteta's striker pecking order behind Gabriel Jesus and Kai Havertz, and a summer exit is seen as an inevitability due to his lack of starts.
Nketiah has proven to be a useful option for the Gunners during Jesus's absences through injury, and he made 37 appearances in all tournaments last season, including 27 in the Premier League.
However, the England international only managed six goals and started a mere 10 Premier League games, while being an unused substitute in the Gunners' last six top-flight matches of the campaign.
Nketiah's deal at the Emirates still runs for another three seasons, having penned his most recent extension in 2022, but the Hale End graduate is one of a handful of prospects who could be sold for pure profit in the coming weeks.
Arsenal 'want club-record fee' for Nketiah
While Marseille are trying to conclude a deal to sign Mason Greenwood from Manchester United, the French giants - now under the tutelage of ex-Brighton & Hove Albion boss Roberto De Zerbi - are also rumoured to be keeping tabs on Nketiah's situation.
According to TEAMtalk, Les Olympiens are preparing to approach Arsenal with a £20m bid for their academy graduate, but the Gunners are expected to immediately turn down the opening offer.
While the Gunners are willing to let Nketiah leave for the right price, they are supposedly after a £40m package to let the 25-year-old leave, which would make him their most expensive sale of all time.
Alex Oxlade-Chamberlain's switch to Liverpool for £35m in the summer of 2017 remains the highest transfer fee that Arsenal have received for a player, but neither Arteta nor Nketiah are 'itching' to leave the club.
The Spaniard supposedly still believes that the 25-year-old is a terrific depth option, despite offering him few minutes in the second half of the Premier League season, and he would happily keep working with him next term.
As well as Marseille, Premier League trio Fulham, Crystal Palace and Ipswich Town are also rumoured to be monitoring developments surrounding Nketiah, who boasts 38 goals and seven assists from 168 matches in an Arsenal jersey.
Which other home-grown players could leave Arsenal this summer?
Whether Nketiah does indeed become Arsenal's most expensive sale of all time remains to be seen, but he is one of a handful of home-grown players who could be sold for pure profit in the coming weeks.
Emile Smith Rowe has failed to kick on since his breakthrough 2021-22 season - partly due to injuries and partly due to competition for places - and he could also leave if a £30m offer is tabled.
Winger Reiss Nelson, who was apparently promised more game time by Arteta last season only to often find himself frozen out alongside Cedric Soares and Mohamed Elneny, both of whom left as free agents at the start of the month.
Academy products Reuell Walters and Amario Cozier-Duberry have already departed; the former is now on the books at Luton Town, while Cozier-Duberry has joined Brighton & Hove Albion.