The Gunners have been linked with a possible move to land the 30-year-old defender this month as Arsene Wenger considers shoring up his rearguard options.
Arsenal were also linked with a move to sign the Northern Ireland international last summer but a switch failed to materialise for the former Manchester United star.
Former Arsenal star Wright says he would love to see Evans sign for Arsenal this month, but admits the defender is likely to choose a move to Manchester City if it came down to a choice between the two clubs.
Speaking on The Debate on Sky Sports, Wright said: “At the end of the day, I get the link with Evans and Arsenal.
“He is a capable and experienced player. He has enough skill and composure. He is good in both boxes.
“[But] you look at Arsenal with players wanting to leave, nowhere near the top four and going out of the FA Cup, then you look at Man City.
“It [City] would be an exciting place to go to at this stage of the career. I’d go to Man City.”
Arsenal have not yet made any signings this month as Wenger considers adding to his squad in the mid-season window.
The north London side are currently in sixth place in the Premier League table as they chase Champions League qualification following the disappointment of their fifth-placed finish last term.
Arsenal have not won the Premier League title since their famous unbeaten triumph in the 2003-04 campaign under Wenger, but they have won the FA Cup in three of the last four seasons.
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