But the Gunners are understood to be facing competition from a host of other European clubs, including Atletico Madrid. The Spanish club's manager, Diego Simeone, worked with Kannemann during his spell in charge of Argentina's San Lorenzo in 809 and 2010.
The 28-year-old has impressed the Premier League club's recruiting scouts with his performances for Brazilian side Gremio and Argentina's national team.
Arsenal are also said to be considering a move for Kannemann's Argentina teammate Nicolas Tagliafico and Manchester United's Ander Herrera.
The defender is tied to Gremio until the end of 2022 and has a 12 million-euro buyout clause in his contract.
BUENOS AIRES, March 24 (Xinhua) -- Arsenal have identified Argentina international center-back Walter Kannemann as a target for the European summer transfer window, according to widespread media reports.