The Frenchman is a long-term target for bitter rivals Spurs, and actively sought a summer move away from the Saints before being told to stay put following the sales of a number of South Coast stars.
But that hasn’t put off Wenger, who is keen to add his compatriot to his ranks next month.
Tottenham themselves are set to launch a fresh move, but the Gunners are ready to launch a monster bid to beat their rivals to the classy enforcer.
A centre-back and a defensive midfielder are Arsenal’s major targets for the coming transfer window, with Wenger thought to have grown concerned with a lack of options in his squad – which has been exposed by a series of key injuries.
Schneiderlin has been with Southampton since their time in League Two, and represented France at the World Cup over the summer.