When the 27-year-old made the switch to the Emirates Stadium in 2022, the hope was that he would establish himself down the centre of the Gunners attack.
Although the Brazil international initially impressed under Mikel Arteta, he has since dropped down the pecking order at the Premier League giants.
Just 41 of his 57 Premier League appearances have come from the starting lineup, while he has also only contributed 15 goals in England's top flight since August 2022.
A return of 19 strikes and 15 assists from 76 outings in all competitions is still a respectable return, yet just eight of those goals have come since the beginning of 2023-24.
Jesus to consider Arsenal exit?
During the current campaign, Jesus has only been provided with 19 minutes of football in the Premier League spread across four games.
The likes of Kai Havertz and Leandro Trossard have been preferred, leaving the versatile attacker to contemplate his options ahead of the turn of the year.
According to Globo Esporte, Palmeiras have made contact with Arsenal in recent days to explore the possibility of a transfer.
Jesus is no stranger to the Brazilian side having starred there during the early stages of his career in 2015 and 2016, scoring 29 goals in 83 games.
As it stands, it is unclear whether Jesus would be prepared to consider a return to his homeland at this stage of his career.
What is Arteta's view?
Nevertheless, regardless of what Jesus' view is right now, it appears that Arteta has no intention of allowing him to depart the North Londoners.
Arteta is said to still view Jesus as 'an important player, despite his fall down the pecking order over the past 12 months, partly due to injury.
That said, Jesus reportedly holds a strong relationship with his former club and a reunion at some stage is regarded as something that is more likely than not.
Jesus still holds a contract at Arsenal until the end of the 2026-27 campaign.