The 19-year-old full-back has been in excellent form for the Saints this term, proving himself to be a more than adequate Premier League defender when filling in for first choice Nathaniel Clyne.
His displays have alerted Arsene Wenger, who is preparing for the possible loss of Bacary Sagna in the summer.
The experienced Frenchman looks set to leave the Emirates Stadium in under six months’ time, with PSG and Monaco ready to offer him lucrative deals to return to his homeland.
With little in the way of alternatives for his current star, Wenger is plotting to snap up a replacement.
Chambers is seen as a good option, with the teenager expected to be one of the latest stars to emerge from Southampton’s famed youth set-up.
The Gunners have already raided the South Coast club for Theo Walcott and Alex Oxlade-Chamberlain in recent years, and are hopeful that a decent offer will be enough to get Chambers to follow the pair to North London.
As well as the aforementioned players, Gareth Bale – now of Real Madrid – also hails from the Hampshire side’s top-notch set-up.