Tuttosport says Barcelona face competition from Juve, which are keen to set up a loan deal for the Gabon international.
Aubameyang was sacked as captain by manager Mikel Arteta last week for disciplinary problems and hasn't been seen for the past three games.
Juve will seek a loan arrangement for Aubameyang with the view to signing him outright in June.
The 32-year-old's contract with Arsenal extends until the summer of 2023.
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