The Belgium international is set to become a free agent this summer after the holding midfielder failed to agree to a new deal with the Red Devils.
Fellaini was a valued member of Jose Mourinho’s squad but the Belgian star wanted a significant wage boost from his current pay packer of £80,000 a week.
However, Manchester United have been reluctant to match Fellaini’s demands to fuel transfer speculation surrounding the 30-year-old’s future at Old Trafford.
Arsenal have already utilised the Bosman ruling this summer after the Gunners signing Stephan Lichtsteiner on a free transfer from Serie A giants Juventus earlier this week.
Sunday Times reporter Castles lifted the lid on pursuit of Arsenal’s transfer bid to sign Fellaini in the current transfer window.
“There will be a meeting with Arsenal,” Castles to the Transfer Window podcast. “Whether Arsenal are prepared to offer the wages Fellaini wants remains to be seen.”
Arsenal finished in sixth spot in the Premier League table last term to miss out on a place in the Champions League for the second successive season.
The Gunners lost 3-0 to Premier League champions Manchester City in the League Cup final to finish the season without silverware.
Arsene Wenger stood down at the end of the season after 22 seasons in charge.
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