The 24-year-old has entered the final two years of his current contract with the North London club, who are keen to tie him down to a new long-term deal.
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According to French outlet Foot Mercato, Real Madrid are keeping tabs on Saliba’s contract situation as they remain interested in the defender.
The report adds new deal for Saliba is seen as a priority for new sporting director Andrea Berta now that the summer transfer window has ended, although it's not close.
Saliba is a key player for Mikel Arteta but is set to miss Arsenal's Premier League clash with Nottingham Forest on Saturday due to injury.