The Gunners are known to be on the lookout for a new stopper after letting back-up man Lukasz Fabianski leave, with Arsene Wenger keen to ensure that Wojciech Szczesny has able competition for the No. 1 berth.
While Mexican and Costa Rican stoppers Guillermo Ochoa and Keylor Navas – both of whom have been linked with switches to the Emirates Stadium – have grabbed many of the goalkeepeing headlines in Brazil in recent weeks, Ospina is thought to be the one Arsenal want.
The 25-year-old turned down a new contract at Nice before jetting off to the World Cup, and it has since emerged that he will be allowed to leave for the right price.
With 12 months on his deal, Ospina is valued at around £3m and Arsenal are ready to pay the sum.
The South American star has been praised for his shot-stopping abilities for some time, and is currently seen as one of French football’s best glovesmen.