The Hale End Academy graduate fell in Mikel Arteta's pecking order last season and barely featured during the Premier League run-in.
With Kai Havertz operating in a central attacking role and Gabriel Jesus still in the squad, Nketiah has struggled to find regular opportunities to shine.
The 25-year-old finished a disappointing 2023-24 season with only six goals, three of which were scored in a single match against Sheffield United.
With rumours that the Gunners are trying to bring in a new centre-forward this summer, Nketiah is believed to have been actively looking for a move away from the Emirates Stadium in search of guaranteed game time.
Marseille agree personal terms with Eddie Nketiah
Despite his recent lack of form, several clubs have shown interest in the 25-year-old, including the likes of Crystal Palace, Tottenham Hotspur and Marseille.
Now, according to transfer guru Fabrizio Romano, the Ligue 1 outfit are the favourites to secure Nketiah's services, having agreed to personal terms with him over a potential move.
With Roberto De Zerbi now at the helm, Marseille have embarked on an ambitious transfer strategy ahead of the start of the Ligue 1 season.
The Italian is believed to be focusing on bringing in Premier League experience, as evidenced by completing the signings of Mason Greenwood and Pierre-Emile Hojbjerg in recent weeks.
However, the report adds that a move to OM for Nketiah is still some way from being a done deal, as Marseille are said to be willing to pay around £17m for him, while the Gunners are looking for closer to £25m.
Transfer business picking up at the Emirates
After a fairly slow start to the summer transfer window, business has begun to pick up at the Emirates in the last couple of weeks.
The Gunners completed the permanent transfer of David Raya from Brentford for £27m earlier in the window and confirmed the £42m arrival of Italian international Riccardo Calafiori earlier this week.
As mentioned, signing a new number nine is believed to be at the top of Arteta's priority list now, with Viktor Gyokeres and Victor Osimhen rumoured to be among the main targets for the Spaniard.
Gyokeres had an exceptional first season in the Primeira Liga for Sporting Lisbon, scoring 29 goals and 10 assists in 33 league matches, which has made him one of the hottest prospects in Europe this summer.
Osimhen, on the other hand, is said to be looking to leave Napoli this summer, though his £101m release clause has already deterred several potential suitors.