The Gunners have made just one addition to their senior squad this summer, having converted David Raya's loan move into a permanent deal.
However, Arsenal are on the verge of completing another signing, with defender Riccardo Calafiori set to arrive from Italian side Bologna.
While Calafiori will strengthen the backline, Arsenal are still looking to improve in other areas of the pitch, including in the middle of the park.
Arsenal boss Mikel Arteta has already seen Mohammed Elneny leave this summer, while Thomas Partey and Emile Smith Rowe have also been linked with a move away.
Arsenal discussing Ruiz deal with PSG
The Gunners are believed to be weighing up a potential offer for Real Sociedad midfielder Mikel Merino, but it appears that they could also target one of his Spanish teammates.
According to journalist Duncan Castles, the North London club have begun talks with PSG over a possible transfer for Ruiz.
The report indicates that any move for the 28-year-old will depend on Arsenal offloading one of their current midfield options.
There is also a possibility that a deal could be structured similarly to the one Arsenal struck to sign Raya from Brentford last summer.
Such a deal would see the Spaniard join an initial season-long loan move with an obligation to buy at the end of the 2024-25 campaign.
Ruiz heading towards PSG exit
Ruiz has by no means been a guaranteed starter since joining PSG from Napoli in the summer of 2022 for an initial €21.5m (£18.1m) fee.
The midfielder started 24 of his 37 appearances in his first season with the French giants, before he was restricted to 14 starts in 21 league matches last term.
Ruiz did at least play an important role in PSG's successful Coupe de France run, scoring two goals and two assists in five matches.
The former Napoli went on to help Spain win Euro 2024 in Germany, with his impressive performances earning him a place in UEFA's Team of the Tournament.
Those displays seemingly caught Arsenal's attention, and a move to North London could see him operate in a midfield three alongside Declan Rice and Martin Odegaard.