The 24-year-old French international has been heavily linked with a move to the Barclays Premier League after the Ligue 1 outfit confirmed they would be willing to listen to offers.
Gunners boss Arsene Wenger is known to be in the market for a left-back this month after a string of injuries has left Arsenal's defensive department depleted.
A fee of around £8million has been mooted as the figure needed to open negotiations with the talented full-back - a valuation that is within Arsenal's transfer budget.
Cissokho would be regarded as a strong addition at the Emirates Stadium, and fans' hopes of signing him have been boosted by the news that Magpies boss Alan Pardew has opted against a rival bid.
It's true that Newcastle are looking to bring a defender to St James' Park in January, but will not compete with Arsenal for Cissokho's signature, and have instead turned their attention to Cesena stopper Yohan Benalouane.
The Tunisian-born star was watched by Toon scouts in Coppa Italia action last week, and Pardew is now weighing up a bid.