Azeez, 19, joined Portsmouth on a season-long loan in August but that has now been cut short with Arteta's midfield options thin on the ground.
England youth international Azeez made 10 appearances for the League One side and been increasingly involved recently.
Azeez made his Arsenal debut against Dundalk in the Europa League in December 2020 and is a player they have high hopes for.
They are keen to assess how he has developed after his first stint away from the club before deciding whether he remains for the rest of the season or is loaned out for the second half of the campaign, says the Daily Mail.
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