Leno had been regarded as one of the brightest goalkeeping talents in Europe when he was younger but his development seems to have stalled in recent years in Germany.
New Arsenal manager Unai Emery wants to give Petr Cech competition with Leno highly-rated by bigwigs at the Emirates.
Reports in Germany claim that Arsenal are closing in on the signing of Leno after making a €20 million bid for the player.
The reports say the Gunners offered £26.5m (€30m) in instalments, rather than to paying his £22m (€25m) release clause in one go.
Sky Sport Italia, as quoted by Metro, is claiming that the Gunners are keen on a deal to land the 22-year-old midfielder this summer and are willing to match the Italian club's valuation of the player.
Arsenal have seen two well known players leave the Emirates this summer, injury riddled midfielder Santi Cazorla, who served admirably with the team for six seasons and the retiring German global Per Mertesacker.
Arsenal are thought to have offered the Uruguay global, who is now out in Russian Federation ahead of the World Cup which gets underway tomorrow, a five-year contract at the Emirates Stadium.
The former Stoke and Blackburn man said: "I am feeling very good at Seville but they are not the biggest club in Europe".