The News of the World says Gunners boss Arsene Wenger is lining up the prolific Ajax striker as a replacement for Emmanuel Adebayor - if the £30m-rated Togo hitman is sold to Barcelona.
The double deal would net the Gunners a £12m profit.
A Dutch insider revealed: "Arsenal are keen on Huntelaar and he has confirmed he would be keen to discuss a move.
"Klaas-Jan is an out and out goalscorer - just the sort Arsenal have needed for many seasons.
"He might not have the silky skills you associate with a Wenger team but he has an amazing knack for putting the ball in the net."