The Brazil international is free to leave the club this summer according to reports and the Gunners are said to want around £60M for the 25 year old who has lost his place under manager Mikel Arteta.
Turkish club Galatasaray showed interest in Martinelli earlier this summer but it looks like the club have since pulled out of discussions which leaves his future up in the air.
Galatasaray made a £38.4m offer, but Martinelli had no interest in heading to the Super Lig as he sought to stay in the Premier League.
Now, it looks like Saudi Pro League side Al-Hilal are keen to snap up Martinelli especially after the club missed out on former Liverpool winger Mohamed Salah earlier this summer.
“Al Hilal have made official club to club contact with Arsenal for Gabriel Martinelli.
“Brazilian winger opens doors to Saudi Pro League side and he’s ahead of the two options Pedro Neto and Francisco Conceição.”
The forward was one of several senior players left out of the matchday squad, along with Gabriel Jesus, Fabio Vieira and Reiss Nelson who are all said to be on Arteta’s transfer list.
This comes as Leandro Trossard was sold to Besiktas for €20M, while midfielder Christian Norgaard joined Everton for £7M. More departure are set to come for Arsenal as they balance the books.
Martinelli has 12 months remaining on his existing contract and made 53 appearances for Arsenal last season as they won a first Premier League title since 2003-04 and reached the Champions League final.