Arsenal have been offered Mirko Vucinic on a six month loan by Juventus but the Gunners are still to respond, according to football website Gianluca di Marzio.
The north London club are in the market for a striker and would prefer a loan deal to help them in the run-in, with Arsene Wenger likely to move in for a permanent option in the summer.
Wenger's side have been hit with a series of injuries with Aaron Ramey out for up to four weeks with a thigh strain while Theo Walcott is out for the season.
Vucinic's agent, Alessandro Lucci, is working on the deal and a decision will be made before the transfer window shuts on 31 January.
Juventus are keeping an eye on Southampton striker Pablo Osvaldo and are planning to bring him to Turin to replace Vucinic, if he leaves for north London.
Wenger has repeatedly quashed rumours regarding a move for the Italy international but with his squad heavily depleted, it is yet to be seen whether he will bring in a forward to support for Olivier Giroud, who has already scored 10 goals in the league this season.
"We are looking at potential possibilities for us to get someone in, but we are not especially in for Vucinic. Some people have visual capacities that I don't have. We are not on any special case," Wenger had said.
The Gunners are also closing in on a swoop for Schalke midfielder Julian Draxler and Vucinic's arrival will give them some much needed strength in depth to challenge for silverware this season.
The north London club are currently second in the league being deposed at the top by Manchester City after Manuel Pellegrini's side thrashed Tottenham 5-1 at White Hart Lane, while the Gunners could only draw 2-2 against Southampton.