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PSG have made the Germany international available for transfer following Neymar’s arrival.
The Brazilian superstar’s £200million switch from Barcelona has seen him displace Draxler at left-wing.
Despite only signing the 24-year-old from Wolfsburg in January, PSG are ready to offload him.
Reports have suggested he will cost just £32m, with the French giants still looking to add Monaco forward Kylian Mbappe.
And according to TransferMarketWeb, Arsenal will make another approach to land long-term target Draxler.
Arsene Wenger has been an admirer of the former Bundesliga star for some time.
And with Alexis Sanchez not committing his long-term future to the Gunners, an offer is said to be on its way for Draxler.
Barcelona have apparently turned down the chance to sign Draxler after losing Neymar to PSG.
But Arsenal do face the threat of their Premier League rivals swooping.
TransferMarketWeb add Manchester United and Liverpool are considering Draxler as a last-minute signing.