Spanish media outlet Marca, as quoted by The Sun, is reporting that the Gunners are interested in a potential deal to sign the 23-year-old from La Liga side Espanyol.
The same article states that current Champions League title holders Real Madrid could enter the race to sign Hermoso, which would complicate a potential move to Arsenal.
According to the same story, los Blancos have a buyback option with Espanyol after Hermoso moved to the Spanish club from Real Madrid in 2017.
The Sun go on to claim that Arsenal are prepared to pay £35m for Hermoso, who received his first call up to the Spain squad this week.
Hermoso failed to break into the first-team at The Bernabeu but racked up 67 appearances for Real Madrid’s B and C teams before his move to Espanyol in July 2017.
The Espanyol defender has scored two goals in 12 games in La Liga this season, finding the net against Celta Vigo and Eibar.
Unai Emery will be hoping that he can convince Hermoso to move to Arsenal given the Spanish theme at the Emirates Stadium.
The new Arsenal boss, who has previously managed Sevilla and Valencia, has two compatriots in the current Gunners squad: Hector Bellerin and Nacho Monreal.
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