Arena is currently out of work after leaving MLS side New York Red Bulls last month.
Arena, who has a wealth of international experience after managing the USA for eight years, is planning to contact the SFA to declare his interest in the Scotland job.
"I am looking to move into British football and I would be very interested in the Scotland vacancy," Arena told the Scottish Daily Mail.
"I will be speaking to my agents this week about getting in touch with the Scottish FA. I believe an American could be a success on the other side of the Atlantic."