The Gunners have been tracking the Uzbekistan midfielder over the course of the past few seasons after being impressed with his performances in the Russian top flight.
Arsene Wenger was linked with a move for his signature over the summer, but a deal failed to come to fruition.
Their interest has since cooled, but the Frenchman is still thought to be a fan of the commanding midfielder.
However, Zenit are now keen on Ahmedov and are planning a move for his signature.
Anzhi are said to be willing to sell for around £10m due to their financial concerns – which also lead to the departures of Samuel Eto’o and Willian.
Ahmedov was the subject of rumours linking his with Arsenal during the last transfer window, and claimed that he would be a success at the Emirates Stadium:
“It is true I have interest from Arsenal – their scouts have watched me in every match this season,” he said earlier his summer.
“If I move there, I could be a huge success but there is no bid yet.
“Of course, I am happy at Anzhi, but I’d like to try England or Spain.”
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