Sport says Barca intend to buy a new fullback in January and have decided that Bellerin is the man they want.
The young Spaniard is a former La Masia graduate and his progress at Arsenal has convinced Barca chiefs he will fit seamlessly into Luis Enrique's system.
Barca chief Robert Fernandez made personal contact with Bellerin in May about the prospect of a return and was encouraged by the player's response.
Limited finances meant Barca were forced to put the deal on the backburner last summer. However, Bellerin is back on the agenda and Barca will test Arsenal's resolve in the winter market.