The 25-year-old has emerged as one of Serie A’s top performers this season on the back of a number of impressive displays for La Viola.
His fine form has caught the eye of Arsene Wenger, who was rumoured to have been considering an approach for the Colombian ace last month.
However he opted against doing so in what was a disappointing January for the Gunners.
But, the Frenchman is ready to up his interest in six months’ time.
Cuadrado has impressed sine being used in a more attacking role by Fiorentina – with his pace and direct approach more effective from the wing than from a full-back position.
It is thought that around £15m may be enough to snap up the South American sensation, yet a deal could be complicated by his part-ownership – Udinese possess 50% of his rights.
The two Italian sides are believed to be battling for a permanent deal, which could allow Arsenal to sneak in and tempt them both to sell.
Liverpool and Tottenham have also been linked with him, but it remains unclear as to whether not they are prepared to go head-to-head with Arsenal for his services.