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The Gunners are challenging for the Premier League title once again this season but they are still eyeing improvements to their squad.
Mikel Arteta will be out to address his strikers' goalscoring issues while injuries have plagued the defence.
It looks set to be an active January at the Emirates with plenty of outgoing and incomings in North London.
Betting on transfers? Check out talkSPORT BET's latest odds.
Follow our live blog below for all the latest Arsenal news...
Art of the deal
Mikel Arteta has rubbished reports linking Arsenal with signing a striker this month.
He replied: "No, because I love the players that we have."
On the importance of Gabriel Jesus scoring more, Arteta added: "Yes but that’s for everybody. We have to share goals, and we are responsible for everything.
"On set pieces, the goalkeeper is responsible, the striker is responsible and when there is a throw-in everybody is responsible for whatever happens with that throw-in.
"We have to share that responsibility, like we have always done."
Emile ticket
It appears West Ham are in two minds over their targets as they look to land a replacement for injured star Lucas Paqueta.
talkSPORT understands manager David Moyes is pushing to sign Kalvin Phillips on loan from Man City, as he seeks a defensive midfielder to fill the gap in the middle of the park.
However, others in the Hammers' hierarchy aren't so keen on the England international, leading to the club's newfound interest in the more attacking-minded Smith Rowe.
The Arsenal No.10 impressed in the 2021/22 campaign with 11 goals and two assists, but injuries have curtailed his progress at the Emirates Stadium.
Groin surgery kept him out for the majority of last season, while he was sidelined with a knee problem earlier this term, and he has been left behind by teammates Bukayo Saka and Gabriel Martinelli during his various spells on the sidelines.
But a loan move to the London Stadium could be just what Smith Rowe needs to rediscover his form, having not scored a goal since April 2022, in what looks like what could be a win-win deal for both clubs.
Arteta addresses Smith Rowe reports
Mikel Arteta has insisted he is 'really happy' with Emile Smith Rowe but refused to rule out a possible exit for the midfielder.
West Ham are interested in the 23-year-old, who has only made two starts in all competitions this season.
Arteta has said the Gunners academy graduate heeds chances and minutes, but wouldn't go into any more detail than that.
"I’m really happy with Emile," said Arteta.
"He’s in the right trajectory. He’s settled really well and you know I’m not going to talk about individual situations.
"No changes. Emile is Emile. We’re really happy to have him. He needs chances. What we have to do is give him minutes."
Credit: GettyHere to have Emile
talkSPORT understands Emile Smith Rowe is focused on staying at Arsenal at least until the end of the season and winning a place in the team.
Arsenal also want to keep him, with Mikel Arteta due to speak to the media in his press conference this afternoon.
West Ham remain interested in the midfielder, though.
Let’s see what the Gunners boss has to say – his presser has just started…
Credit: GettyRowe your boat...gently down the thames
Arsenal midfielder Emile Smith Rowe is attracting interest from West Ham, talkSPORT understands.
The Hammers are open to signing Smith Rowe, who has struggled for game time since the start of last season, on a six-month loan.
Smith Rowe has been limited to just six Premier League appearances this season - starting once.
Credit: GettyTone deaf
Darren Bent has told his beloved Arsenal to ignore the lure of Karim Benzema this January and look a little closer to home.
A striker who has been linked to join this January and Brentford star Ivan Toney could be the answer as he makes a return to football following an eight-month ban for a breach of betting rules.
And Bent would rather take a punt on the one-cap England international over Ballon d'Or winner and five-time Champions League winner Benzema, who has also been linked on a short-term deal as he looks to cut end his Saudi Arabian stay.
Set the tone
Arsenal target Ivan Toney will captain Brentford against Nottingham Forest on Saturday when he makes his comeback after an eight-month betting ban.
Bees boss Thomas Frank began his press conference this morning by confirming the 27-year-old striker will not only start the match, but lead the side out in the absence of the injured Christian Norgaard.
Asked how Toney had been in training this week, Frank replied: "He is buzzing. He's very committed and excited. He can't wait.
"He will start tomorrow and he will lead the team out as Christian is injured."
Karim the dream
Karim Benzema has reportedly alerted Arsenal and Premier League clubs by indicating that he is open to leaving Al-Ittihad.
According to the Evening Standard, the 36-year-old is exploring his options and believes a move to England is a possibility.
However, the report added that former Real Madrid striker's wages could prove a stumbling block to any potential deal with Arsenal.
Credit: GettyToney over Benzema?
Darren Bent would rather Arsenal signed Ivan Toney than Karim Benzema this month.
The Gunners are one of the top Premier League clubs looking for a new No.9 to lead the line and have been linked with an interest in the Brentford star, but Benzema is now on the market as he looks to get out of Saudi Arabia.
The former Ballon d'Or winner and Real Madrid would reportedly cost any interested club £38.9million in loan fees and wages just until the end of the season.
But Bent says Toney, who is rated at around £100m by Brentford, would be a better buy.
“It depends as a club if you’re going short-term or long-term," said the Drivetime host.
“Would Benzema be a gamble? Not really, because he's one of the best strikers we’ve ever seen - and that’s fact.
“But if you’re looking long-term, and with Arsenal’s model of signing younger players, I know Toney isn’t that young, but you could have Toney for the next four or five years.
“If you get Benzema until the end of the season, you’ve got the same problem again in the summer, and Toney might be gone by then, Chelsea might have got him.
“I’d probably go long-term with Toney, but whoever gets Benzema now until the end of the season, wow, he’s going to be incredible.
“It just depends on what he’s got left, what juice he’s got, because he’s been in Saudi with his feet up you don’t know how competitive he still is."
Asked if Toney is the second-best striker in the Premier League behind Erling Haaland, Bent then had a bold shout: “My No.2 is the flip of a coin, but personally I think Alexander Isak is just class.
“He would probably be second, then Toney.”
Credit: GettyAngling for Ander
Arsenal and Tottenham are interested in signing Real Sociedad winger Ander Barrentxea, according to The Sun.
The 22-year-old was scouted by the North London rivals late last year and they could both make a move.
Mikel Arteta is said to see Barrentxea as a top target and the Gunners boss has a strong relationship with Sociedad after playing there in 2004/05.
Arsenal want the forward to provide competition for Gabriel Martinelli and may look to bring him in this month.
Credit: Getty'Why would you spend £60million on Havertz?'
Graeme Souness has questioned why Arsenal signed Kai Havertz at the start of the season when they already had Emile Smith-Rowe.
Havertz, who signed for £67 million last June, has failed to impress in his first six months at the Gunners.
The German has scored five goals in 29 appearances so far this season for Mikel Arteta's side.
Souness was speaking on 'Simon and Souness', and believes academy prospect Smith-Rowe should be starting over Havertz.
He said: "I like Smith-Rowe. He runs into the box, he's a goal threat. But then why would you spend £60 million on Havertz?
"I know that you have to strengthen your weakest positions, but it is clear that Arsenal needed a striker.
"So why do you go and get Havertz from Chelsea? When, really, you have a homegrown player that is every bit as good as him.
"That £60 million should have been spent on a striker. And that may well cost them."
Credit: GettyBenzema blow
Arsenal have been linked with a spectacular move for Karim Benzema, however, his lawyer has now quashed reports of him being unhappy.
Hugues Vigier, who represents Benzema, has dismissed the Al-Itthad striker's struggles and hinted at a return to Lyon rather than a move to the Gunners.
Vigier told RMC: "When you are used to a certain level and your results are a little less good at a given moment, people immediately say that it is the end of your career.
"I have to say that I would be quite happy to see him come back to play in Lyon, I would like it... but he hasn't told me that yet!"
He continued: "He has experienced ups and downs in his career, perhaps this period is less prosperous, and he has also been injured.
"He left for a few days, he was held back from returning to Saudi Arabia by the cyclone. He then returned to Saudi Arabia.
"We saw him rise from the ashes. If you remember, he didn't play much when he arrived at Real Madrid, then he became this absolutely essential player.
"And he has worse moments and better moments, it’s like that for all athletes."
Credit: RexIn defence of Toney
Ivan Toney will not have pleased Brentford fans with his recent interview where he talked up leaving the club.
Many felt his brazen admission that he wanted to join a 'top side', amid interest from Arsenal, was disrespectful towards the Bees who have stuck without him throughout his betting ban.
But Simon Jordan didn't see anything wrong with what he said.
“Of course he has an interest in moving away, I don’t think there’s anything particularly bad about what he said, he wants to play for a top club - that’s the ambition of all top players," said the White and Jordan host on talkSPORT.
“He will only be sold if Brentford allow him to be sold, so he knows his position and he knows Brentford want to cash in on him.
“The thing about buying Ivan Toney is you’d be buying him for footballing reasons, not financial reasons, because buying a 28-year-old at his stage for between £60m and £80m will not be an economically valuable decision because the resale value will be less.
“But he will give you footballing outcomes.
“Brentford will be realists in this situation, they know Toney will leave, so there’s no point arguing about it, the decision has already been made, it’s just about how much they get for him.”
Credit: GettyYoungster recalled
Arsenal have recalled young striker Mika Biereth from Motherwell.
The 20-year-old scored six goals and provided five assists in only 14 league games in Scotland but his deal has been cut short.
It has come as a surprise to Motherwell boss Stuart Kettlewell who said: "It’s a major, major disappointment. This was a little bit unexpected.
"They believe there’s an opportunity to send him to another club that takes him that step beyond where we are just now."
Reports claim that Biereth is set to head back out on loan to Sheffield Wednesday in the Championship.
Toney shut down
Despite Ivan Toney essentially telling Arsenal to stump up some cash and sign him this month, talkSPORT understands Brentford's view remains unchanged.
The Bees have no desire to sell the striker, who has just returned from a lengthy ban for illegally betting on football.
In an interview with Sky Sports, the England international revealed his desire to play for a 'top club' and also indicated he would be willing to move on whenever.
However, Brentford see him as a key player in their bid to stay in the Premier League, so unless they get a crazy offer, he will have to wait until the summer.
Benzema declining
Karim Benzema won the Ballon d'Or in 2022 after helping Real Madrid win the Champions League.
He was arguably in the form of his life, but since then, he's moved to Saudi Arabia and hasn't exactly set the world on fire.
He's still averaging nearly a goal contribution per game but you do expect more from Benzema in a lesser league.
So should Arsenal bring him in on loan, you would hope he can still reach the levels required to be successful in the Premier League.
Arsenal and Tottenham battling for electric winger
Arsenal are set to face firm competition from rivals Tottenham for Ander Barrenetxea.
The Sun report the Gunners and Spurs are huge admirers of the Real Sociedad star, and they've both scouted him this season.
The 22-year-old is seen as the perfect player to compete with Gabriel Martinelli on the left, but he can play on either wing.
In 22 appearances this season in all competitions, he's scored four goals and provided two assists.
But he played a key ole in Sociedad making it through their Champions League group, terrorising defenders.
So this could turn into a spicy battle.
Arsenal linked with sensational Benzema swoop
Karim Benzema is reportedly already unhappy in Saudi Arabia and is eyeing a January move back to Europe from Al-Ittihad.
The Frenchman and multiple Champions League winner was once heavily linked with a move to Arsenal before moving from Lyon to Real Madrid, and TEAMtalk claim the Gunners are lining up an incredible loan move.
The London giants are constrained by Financial Fair Play in this window but recognise they need a striker if they are to launch a successful title challenge, with Gabriel Jesus and Eddie Nketiah not getting enough goals.
And despite being 36, there aren't too many better forwards around than Benzema.
If this were to happen, it would be an incredible loan deal for Arsenal and is one to keep an eye on as we approach the end of the window.
Credit: GettyCedric set for exit
Forgotten Arsenal player Cedric Soares is close to sealing a move away from the club, talkSPORT understands.
The 32-year-old Portuguese defender spent the second-half of last season on loan at Fulham and is not in Mikel Arteta's plans in north London.
Soares - formerly of Southampton - has not made an appearance in the Premier League this season, with his only two senior games coming in the Carabao Cup and their Champions League dead-rubber at the end of the group stage.
But he is now set to move to Turkey to join Super Lig giants Besiktas, sources have told talkSPORT.
Talks are at an advanced stage between the clubs, with the defender set to end his four-year stay at the Emirates Stadium.
Soares has made 61 appearances for Arsenal, contributing two goals and five assists.
Credit: GettyMore on Toney
talkSPORT understands that Brentford would demand at least £80million to even entertain the idea of parting ways with Ivan Toney.
This comes after a bombshell interview with Sky Sports, in which Toney said: "You can never predict when is the right time to move elsewhere.
"But I think it's obvious I would like to play for a top club - everybody wants to play for top clubs that are fighting for titles.
"Whether it's this January that is the right time for a club to come in and pay the right money, who knows?
"But my main focus is doing what I do on the pitch, and let the background work take care of itself."
'It's obvious'
Ivan Toney has sent the clearest message yet that he wants to leave Brentford.
The striker has long been linked with a move to Arsenal, with the Gunners big fans of the striker.
And with his ban for illegal betting on football matches over, he's been speaking about his future.
In his chat with Sky Sports, Toney clearly reveals he doesn't want to be at Brentford for too much longer.
He said: "You can never predict when is the right time to move clubs.
"It's obvious I would like to play for a top club."
Credit: Sky SportsEFL club eye Arsenal youngster
Sheffield Wednesday are looking to sign Arsenal youth player Mika Biereth at some point this month.
Alex Miller of The Sheffield Star reports the Owls are keen on bringing the striker to Hillsborough for the second half of the season.
The 20-year-old is a Danish Under-21 international and is currently on loan with Motherwell.
After only playing one of the opening eight SPFL games, Biereth has been regularly contributing to goals.
In just 14 league appearances, he has six goals and five assists and is highly rated within Arsenal.
Zirkee competition
In Arsenal's pursuit for a new contract, they've looked at Bologna forward Joshua Zirkee.
However, Florian Plettenberg from Sky Germany reports the Gunners could face competition from Manchester United.
The Red Devils are looking for another striker to replace Anthony Martial and provide support to Rasmus Hojlund and the former Bayern Munich man is a target.
However, if either Arsenal or Man United are to sign the striker, they will need to pay around £50million.
He has a release clause for this window, but that only applies to Bayern.
Simons the one
Xavi Simons has been linked with a move to Arsenal, and you can see why Mikel Arteta would want him.
The Dutch international is both adept at creating and finishing chances, proving to be an excellent player for RB Leipzig this year.
The 20-year-old is predominantly a right winger, so would provide excellent competition for Bukayo Saka.
However, he can play in an attacking midfield role or on the left, and that sort of versatility is something Arteta craves.
On top of this, he has been playing in the Champions League this year after a stint in the Europa League during the 2022/23 campaign.
So, he ticks a lot of boxes.
Arsenal join race for exciting Bundesliga star
Arsenal are set to compete with Bayern Munich and Barcelona for Xavi Simons' signature.
Bild report the Gunners are well in the race for the Dutchman, who played against Mikel Arteta's men twice in the Europa League last year while on loan at PSV Eindhoven.
He impressed while in the Netherlands and RB Leipzig have got him on loan for the season.
But he is PSG's player and someone they are likely to give plenty of game time next season.
However, should the French giants decide to part ways with the Dutch international, the Gunners would be one of the main competitors for his signature.
Credit: Getty