The agent of Porto striker Hulk has claimed Arsenal have previously been in touch over the potential signing of the Brazilian.
Hulk netted 36 times for Porto last season as the Dragões lifted a domestic treble as well as triumphing in the final of the Europa League.
Reports in recent weeks have suggested Arsene Wenger is keen to add the 25-year-old to his Arsenal ranks for a fee of around £23 million.
However, Hulk's representative - Teodoro Fonseca - the latest Arsenal rumours are news to him, although he has confirmed the Gunners have made an approach in the past.
But, should Arsenal formalise their interest in the imposing forward, they will have to meet his release clause - a whopping £87 million.
"Every year there are more clubs interest in Hulk and I am also aware that there are clubs from outside the Premier clubs interested," Fonseca told Portuguese newspaper A Bola.
"This Arsenal rumour is news to me but it is true that there has been contact before but nothing happened.
"But I speak often with Porto and the figures have not changed. He will only be sold if someone pays the €100m (£87m) so this figure of £23m that has appeared would not be considered."