Arsenal officials flew out to Spain to hold talks with midfielder Daniel Parejo's representatives, according to Marca.
The Spanish publication claims talks between the two parties over a possible January move took place yesterday, with Arsene Wenger keen to bring the player to the Emirates from Valencia.
Parejo moved to the Mestalla Stadium in the summer, but is yet to make an appearance for Los Che and appears out of favour with manager Unai Emery already.
The 22-year-old is reportedly considering his options after making the move from Getafe, with Arsenal now appearing to be a realistic possibility for the former QPR loanee.
Settling in London should not be an issue given his previous time in west London, although the step-up from Npower Championship to Barclays Premier League will provide the former Spanish U21 international with a tough task.
Parejo would also face competition for places at the Emirates too, with Wenger bringing Mikel Arteta and Yossi Benayoun to Arsenal on deadline day during the summer transfer window.
However, an injury to Jack Wilshere has shown that the Arsenal midfield remains relatively thin in-terms of depth, and Parejo could bolster the Gunners' ranks further with a January move.