Zubimendi only signed for Arsenal last summer, but uncertainty over his place in the team as manager Mikel Arteta favours other members of the squad has reportedly to him opening his options.
The Spain international was brought in to give Arteta a specialist defensive midfielder who could maintain possession, dictate the tempo and provide cover for defenders.
However, he has since been brushed aside by Arteta, starting just twice this season which includes one appearance in the EFL Cup which Arsenal are now out of after the loss to Fleetwood Town.
Arsenal's summer signing of Bruno Guimaraes has increased competition for midfield places alongside Martin Odegaard, Declan Rice, Eberechi Eze, Myles Lewis-Skelly and even teenager Max Dowman who are favoured ahead of the World Cup winner.
He is reportedly unhappy with his reduced role and wants more regular football as Real Madrid, Barcelona and Atletico Madrid hope to bring him to La Liga.
A loan move has reportedly been discussed as a possibility as per reports, but a permanent January switch could occur for the 27 year old whose place in the side looks to be over.
Arsenal spent £59.9M on Zubimendi, a player who could leave for a cut price fee after failing to find his feet in North London despite being a recent signing.