The 24-year-old Uruguayan only joined the Gunners in a £26million to deal from Sampdoria in 2018.
Speaking about a future move to Boca, Torreira told Fox Sports Argentina: "I imagine a Copa Libertadores night at the Bombonera wearing Boca's shirt, of course.
"Right now my head is in Europe and I want to stay for a while.
"But I have that desire and dream to go [to Boca] – and not just to retire, but to compete and feel what the Boca world is."
He added: "My family are big soccer fans and we Uruguayans watch a lot of Argentine football.
"It is one of the most important in South America, very passionate, so from a very young age this affection, this love for Boca was born."