The Gunners have confirmed a couple of signings this summer, converting David Raya's loan move into a permanent transfer before recruiting centre-back Riccardo Calafiori from Bologna.
Having strengthened in the goalkeeping and defensive department, Arsenal are now looking to bolster other areas of their squad, including their engine room.
The Gunners have seen their midfield options weakened by the sale of academy product Emile Smith Rowe, who recently completed a move to fellow London club Fulham.
Mohamed Elneny also left the Emirates Stadium earlier this summer, while there is uncertainty surrounding Thomas Partey's future.
Arsenal yet to submit Merino bid
After being linked with a number of potential targets, Arsenal have seemingly turned their focus to signing Merino from Real Sociedad.
A recent report claimed that Merino was open to the move and has already reached an agreement with Arsenal over personal terms.
There was also a belief that Arsenal were in advanced discussions with Real Sociedad over a potential €30m (£25.3m) transfer.
However, according to football.london, the Gunners are yet to submit an official offer for the Spain international.
Merino in line for Premier League return
While Arsenal are still waiting to make an official bid, there is a belief that negotiations can be completed quickly due to the strong relationship between the two clubs.
Should he complete a move to Arsenal, Merino will hope to make his mark in the Premier League after failing to do so during his time with Newcastle United.
The 28-year-old made just 24 Premier League appearances during an underwhelming 18-month stint with the Magpies, before he completed a move to Real Sociedad in 2018.
Merino has since gone on to establish himself as a top La Liga midfielder, having made 190 top-flight appearances in his six-year stay at the Reale Arena.
The Real Sociedad man was also part of the Spain squad that achieved European Championship glory in Germany last month.