Arsenal are tracking Christos Tzolis and Bradley Barcola as they look to strengthen their attack this summer, sources have told ESPN.
The Gunners are looking to bolster their squad from a position of strength after ending a 22-year wait to lift the Premier League title last month.
ESPN has previously reported Arsenal's interest in Aston Villa midfielder Morgan Rogers and Atletico Madrid's Julián Álvarez but they are also looking at left-sided attackers amid uncertainty over the futures of Gabriel Martinelli and Leandro Trossard.
Rogers can play off the left but Arsenal are have made initial contact with Club Brugge to explore the possibility of a deal for Tzolis.
The 24-year-old attracted interest from Crystal Palace last summer but opted to sign a new contract to remain in Belgium. Paris Saint-Germain have been trying to tie down Barcola to a fresh deal for several months. The 23-year-old has two years remaining on his existing agreement and reports in France have suggested PSG could be willing to allow Barcola to leave in a new contract is not finalised.
Liverpool are also thought to be monitoring the situation.
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Both Martinelli and Trossard have one year remaining on their Arsenal contracts. It is unclear whether the Gunners are ready to offer either player an extension. Trossard signed a new deal last summer but that only increased his salary rather than the extending the length of his deal.
The club have an option to extend Martinelli's deal by a further year to 2028.