The Sun is reporting that the Gunners are pondering making a move to sign the 24-year-old defender, who has spent this season on loan to Everton.
Zouma has been a regular fixture in the first team at Everton this season and has scored two goals and made two assists in 30 Premier League games for the Toffees.
According to the same article, Arsenal are willing to sell Mesut Ozil, Henrikh Mkhitaryan and Shkodran Mustafi to fund their summer transfer business.
However, the same story says that the Gunners will only have a transfer budget of around £40m to work with if the north London side fail to qualify for next season’s Champions League.
The article also says that Emery has been impressed by Zouma’s performances on loan to Everton this season.
Meanwhile, Arsenal will look to keep their top-four hopes alive by claiming a win over Brighton and Hove Albion at The Emirates in the Premier League on Sunday afternoon.
The Gunners currently find themselves in fifth place in the Premier League table as they chase Champions League qualification for next season.
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