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Arsenal completed their stunning £52m deal for Lyon striker Lacazette last week.
Arsene Wenger made a huge statement by landing the 26-year-old, who has signed a five-year contract at the Emirates.
The Gunners are now looking to utilise their new star signing in their attempts at luring Lemar away from Monaco.
Lemar is now Arsenal’s top target for the rest of the summer as they seek to bolster their attacking ranks even further.
The 21-year-old, who scored nine goals and provided 11 assists in 34 Ligue 1 matches last season, is rated at well over £50m by Monaco.
The French club are playing hard ball over the fee and are determined to get as much cash as possible if they are forced to let their star go.
But Lemar is close friends with his France international team-mate Lacazette.
And Arsenal hope this could help swing the deal in their favour.
A deal for Lemar would also help further convince contract rebel Alexis Sanchez to stay put in north London.
It is understood that Sanchez, a key target for Manchester City, has been delighted by Arsenal’s Lacazette deal.
And the Chilean ace would welcome another mega-money swoop for Lemar.
The Sun claimed today that Lemar has agreed personal terms with Arsenal.
Lemar’s representatives have given the green light to a £90,000-a-week deal with the Gunners on a long-term contract.
The France international has also told Monaco he wants to move to the Premier League.
Arsenal are now working hard to try and agree a fee with the French champions.