The Manchester United forward was widely expected to join Tottenham before Monday's deadline but could now be on his way to their north London rivals
.It is not yet clear whether Arsenal are chasing a loan deal or a permanent move.
Arsene Wenger again insisted on Sunday he had enough options to cover the loss of Olivier Giroud, who is out until the New Year with a broken leg.
But the Arsenal manager did say he would remain "active" in the market right up until the deadline, and news of a move for Welbeck comes with five hours of the window remaining.
Welbeck went to the World Cup with England this summer but is surplus to requirements at Old Trafford under Louis van Gaal.
The 23-year-old's sole start this season came in the League Cup defeat at MK Dons, and United have since struck a deal to sign Radamel Falcao on loan from Monaco.
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