Despite playing a fundamental role in the Gunners' return to the Champions League for the 2023-24 season, Partey could be moved on as part of Arsenal's midfield overhaul.
The Ghana international turned 30 earlier this month and only has two years left to run on his deal with Arsenal, where he has been plagued by several fitness problems since joining in 2020.
Partey is believed to have attracted the attention of several clubs from Saudi Arabia, but his preference is to remain in Europe, which has put Juventus in pole position for his signature.
Arsenal are supposedly prepared to let the former Atletico Madrid man depart for as little as €20m (£17.2m), but according to Tuttojuve, that price tag still proves too steep for Juventus.
Instead, the Bianconeri are considering a player swap which would see Arthur arrive at the Emirates after the Gunners tracked the Brazilian during the January 2022 transfer window.
The ex-Barcelona man is currently in the dark over his future following a difficult loan spell with Liverpool, where he played just 13 minutes of Champions League football for Jurgen Klopp.
A thigh injury and subsequent surgery did not help the 26-year-old, who did not make a single Premier League appearance for the Reds, and Liverpool unsurprisingly did not take up their option to make his stay permanent.
Arthur is therefore due to return to Juventus for the pre-season period, and his contract also runs for another two years, but he does not appear to have a future at the Allianz Stadium under Massimiliano Allegri.
The former Gremio youngster has already been the subject of one expensive swap deal, arriving at Juventus from Barcelona in 2020 as Miralem Pjanic headed in the opposite direction.
The transaction did not work out well for either party, though, and Arthur has just one goal and one assist to boast from 63 appearances for Juventus in all competitions.
Meanwhile, Partey has contributed five goals and four assists from 99 games in an Arsenal shirt, scoring a pair of fine long-range strikes against Tottenham Hotspur and Nottingham Forest last season.
However, the Ghana international lost his place in Mikel Arteta's midfield towards the end of last season due to a decline in form, and he was shifted to a right-back role in the Gunners' final two Premier League games with Forest and Wolverhampton Wanderers.
Partey's regular midfield partner Granit Xhaka is also set to bid his farewells to Arsenal ahead of an expected £13m move to Bayer Leverkusen, which could be made official once Kai Havertz's £65m arrival from Chelsea is confirmed.
The Gunners are also preparing a third club-record bid for West Ham United's Declan Rice, who was the subject of a failed £90m offer from Manchester City on Monday night.