The Gunners have been heavily linked with the 30-year-old in the past and were trying to land his signature last summer along with a number of other clubs such as Manchester City, who had an £18m ($24.4m) offer rejected.
However, the manager at the time, Tony Pulis, said the two clubs failed to meet West Brom's £30m ($40.7m) valuation of their captain.
"The bottom line with Jonny Evans – Arsenal were interested and Manchester City were interested – is they never met the value the football club wanted," Pulis told reporters, according to Sky Sports. "If they had met a value it might have been a different situation."
According to Sky Sports, though, the north London club have made a fresh enquiry for Evans now, as they look to reinforce what has been a leaky defence in recent weeks, having conceded eight goals in their last four league games.
The report also says that Pep Guardiola's City have made an enquiry but that no formal offers have been made at this point.
Evans joined West Brom from United in August 2015 and has gone on to make 80 league appearances for the Baggies who currently sit in the 19th spot with just two wins in 22 league games this season.
The Northern Ireland defender has just 18 months left on his current deal and with new manager Alan Pardew recently refusing to rule out a Hawthorns exit, Arsene Wenger could be boosted in making his second defensive signing of the January transfer window following the arrival of Greek youngster Konstantinos Mavropanos.
"I think you have to be realistic in these situations. Jonny is a top player, other clubs were interested in him in the summer," Pardew said in December. "We know that and he knows that, we have to be intelligent and straightforward dealing with it.
"He is under contract for West Brom. He knows he can have those conversations [about a new deal] with us. We will give him the best deal we can possibly go to on the financial side and length of contract, but that might not be the whole thing with Jonny."