Arsenal are prepared to meet Nolito's £12.6m release clause to sign him in January, reports AS.
Barcelona have been strongly linked with a move for the Celta Vigo star, who has been in superb form this season.
The 29-year-old's performances recently earned him a recall to the Spain national team, which has in turn attracted the interest of some of Europe's elite sides.
The Gunners would be keen to bring him to the Emirates in January to maintain their title pursuit, though Barcelona perhaps have the advantage in any transfer saga.
Current Blaugrana boss Luis Enrique worked with Nolito during his time as in charge of Celta Vigo, and Enrique is believed to eager to link up with his compatriot at Camp Nou.
Seven goals and a further four assists has contributed to Nolito's WhoScored rating of 8.03, a return bettered only by Neymar (8.63) and Lionel Messi (8.44) in La Liga this season.
For more stats on Nolito, click here to view his WhoScored player page
