Having already completed two signings, reports suggest that Arsenal could have another five new players coming through the door by the end of transfer window.
Click through the gallery above to see five transfer targets who could join Arsenal, according to multiple reports!
Having narrowly missed out on 2022/23 UEFA Champions League qualification to north London rivals Tottenham Hotspur, the Gunners have been active in the transfer market as they look to bolster what some feel is a thin squad.
A position Arsenal lacked depth and quality in last season was up front. The club recently extended the contract of the England U21 team's all-time leading goalscorer Eddie Nketiah, while numerous reports have linked Manchester City forward Gabriel Jesus with a switch to the Emirates.
The Brazilian is said to be keen to link up with his former coach Mikel Arteta once again, and be the main man at a top club, having spent years as an understudy to Sergio Aguero at the Etihad.
City are reportedly asking for £50 million (R980 million) for the 25-year-old's services.
Another Brazilian forward who could soon be making his way to the Emirates Stadium is Leeds United winger Raphinha.
The skilful wide man has reportedly agreed terms with Barcelona, but given the Spaniards' volatile financial situation, the Gunners could swoop in and sign the Porto Alegre native.
Having impressed for the Selecao on a few occasions since making his senior international debut last year, the former Sporting Lisbon star is hot property and many teams will be in for his signature.
Players 25 years old or younger seem to be the profile Arteta is looking at, with Youri Tielemans another footballer heavily touted to be joining the Gunners in this window.
The Leicester City midfielder is entering the final 12 months of his contract with the Foxes, and is reportedly keen to join the north Londoners after confirming he would not be extending his stay at the King Power Stadium.
Despite significant improvements in the Londoners' defence last season, the two other players who could be bound for Arsenal are Lisandro Martinez and Aaron Hickey.
Martinez, an Argentine centre-back at Ajax Amsterdam, would provide cover and competition for last campaign's starting left-central defender Gabriel, while William Saliba and Ben White contest the right-sided position.
Left-back Hickey's acquisition would be a welcomed addition to the Emirates. His compatriot Kieran Tierney has been a regular starter for Arteta since he came in from Glasgow Celtic, but frequent injuries to the Scotsman may have forced the Gunners to look for competent cover.
Here are 10 transfers that have already been confirmed for the 2022/23 season: