Spanish media outlet Sport, as quoted by Metro, is reporting that Marcelo has asked to leave the Spanish giants this summer.
The same article states that the Brazilian full-back’s representatives are in talks with Real Madrid president Florentino Perez.
According to the same story, Arsenal are one of the teams who have shown an interest in the experienced Real Madrid defender.
Sport goes on to report that the Gunners could face competition from Paris Saint-Germain, Juventus and AC Milan.
Arsenal are rumoured to be in the market to sign a new left-back in the summer after the Gunners were linked with Celtic star Kieran Tierney.
The north London outfit have only signed Gabriel Martinelli from Brazilian side Ituano in the summer transfer window so far.
Arsenal finished in fifth place in the Premier League table last season to miss out on a spot in the Champions League.
The Gunners lost 4-1 to Chelsea FC in the Europa League final to be condemned to another season in the competition along with Manchester United.
Unai Emery took over the reins of Arsenal from Arsene Wenger last summer after the Frenchman’s 22-year reign.
MORE: Man United latest news
MORE: Arsenal latest news
MORE: Chelsea latest news
MORE: Liverpool latest news