The Gunners, alongside Newcastle United, are reportedly considering the 25-year-old, who has entered the final six months of his contract in France.
Arsenal are thought to be prioritising a striker signing in the final days of the January transfer window, having lost Gabriel Jesus to a season-ending injury earlier this month.
They seem unlikely to strike a blockbuster deal to sign one of their primary targets, Alexander Isak or Benjamin Sesko, and may look at cheaper options before the deadline on February 3.
Arsenal Discuss Move for Jonathan David
Among Premier League clubs interested
Lille striker Jonathan David in action
According to MailOnline, Arsenal have David firmly among other names on their shortlist, including Isak, Sesko and Wolves star Matheus Cunha.
The Gunners could look to strike a low-cost deal for the Canadian international, though it remains to be seen if David himself would be keen on a mid-season move.
According to GIVEMESPORT sources, the 25-year-old would like to keep his options open until the summer, even if Lille would entertain cashing in on their star forward at the very last opportunity.
The 25-year-old, labelled 'one of the best strikers in the world' by Tony Marinaro, has been in excellent form for Lille this season and is currently joint second-top scorer in Ligue 1 with 11 goals in 18 appearances.
The Brooklyn-born ace is also Lille’s leading scorer in the Champions League, having registered five goals and one assist in seven games.
Aside from any potential new signings, Arsenal could see one or two first-team departures in the coming months, with full-backs Kieran Tierney and Oleksandr Zinchenko now targets for European clubs.
The Scotsman is reportedly being eyed by Celtic on loan until the end of the season, while Zinchenko has suitors at Atletico Madrid and Borussia Dortmund.
Jonathan David's Lille Stats (2024/25)
Games
31
Goals
18
Assists
7
Minutes per goal
141
Minutes played
2,533
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