Ekitike is highly sought after by top European clubs, including Chelsea, Manchester United, and Liverpool.
The Gunners are considering Ekitike after facing challenges in negotiations for other players, Viktor Gyokeres from Sporting CP and Benjamin Sesko from RB Leipzig.
Arsenal hopes to reach an agreement with Eintracht Frankfurt for a fee lower than €60 million.
However, Eintracht Frankfurt already has potential replacements for Ekitike in Franjo Ivanovic from USG and Jonathan Burkardt from Mainz.