ESPN, as quoted by the Daily Mirror, is reporting that the Gunners are interested in signing the Brazilian midfielder, who is currently on loan at Newcastle United.
Kenedy has struggled to tie down a regular starting spot in the Chelsea FC team under Antonio Conte and his predecessor Jose Mourinho.
Chelsea FC allowed the 22-year-old to move to Premier League rivals Newcastle on loan for the 2017-18 season.
The same article states that his performances for the Magpies have earned interest from Champions League semi-finalists Bayern Munich and Ligue 1 giants PSG.
According to the same story, Arsenal are also monitoring the South American with view to a potential transfer at the end of the season.
Kenedy has scored scored two goals and has made two assists in eight games in the Premier League since his loan move to Newcastle from Chelsea FC in the January transfer window.
The Brazilian forward has scored three times in 27 appearances for Chelsea FC but has failed to establish himself as a first-team regular.
Chelsea FC are in fifth place and one spot above Arsenal.
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