Ronald Koeman revealed last month that Barkley is desperate to leave Goodison Park and the Gunners, Tottenham and Chelsea have all expressed an interest in signing the 23-year-old attacking midfielder.
Antonio Conte’s side have already had a £25million offer rejected for the England star and Arsenal are now eyeing a last-minute bid.
The Daily Mirror suggest both Arsenal and Spurs could make moves for Barkley who only has one year remaining on his contract with the Toffees.
Arsene Wenger is understood to be preparing for Alexis Sanchez to join Manchester City and has been forced to scour the market for possible replacements.
Ross Barkley's Premier League seasonGames played36Assists8Goals scored5
It’s believed Paris Saint-Germain’s Julian Draxler is also on Arsenal’s radar, with the north London club in constant contact with the Ligue 1 giants.
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Liverpool have emerged as favourites to sign Monaco ace Thomas Lemar in recent weeks.