The Red Bull Salzburg star has been identified as a replacement for Johan Djourou - the Arsenal centre-back who looks set to move to Hull City.
Currently on loan at Hamburg in the Bundesliga, Djourou is free to leave the Emirates Stadium and Hull boss Steve Bruce has been linked with a £2.6m summer bid for the Swiss international.
And Arsenal believe they can secure Austrian defender Hinteregger as Djourou's replacement - although United are keen too.
Wenger may struggle to hold on to Thomas Vermaelen if the Belgian international continues to fail to break into the first-team. The former-captain wants first-team football and has been mentioned as a transfer target for several clubs.
Arsenal would need cover in the centre of defence in that case, and Hinteregger could be their man.
Red Bull Salzburg reportedly want £8m for him this summer, although the 21-year-old is also a target for Lazio and Manchester United.
United are expected to strengthen in defence, with club captain Nemanja Vidic set to depart at the end of the season.
Old Trafford boss David Moyes has been linked with a number of central defenders, including Benfica's Ezequiel Garay and Hinteregger.