Porto star Brahimi is a free agent in the summer with his deal at Porto expiring.
The attacker has bagged six league goals this season, while also providing two assists in the Champions League.
It’s believed Everton are also interested in the 28-year-old, who has made 39 appearances for Algeria despite progressing through France’s youth ranks.
And the Mirror claim both Arsenal and Manchester United have also held initial talks with Brahimi’s representatives.
The fact that Brahimi will be available on a free is good news for Arsenal boss Unai Emery.
The Spaniard recently announced that the club can only make loan deals this month.
It’s believed that’s as a cost-cutting measure following recent big money moves for the likes of Pierre-Emerick Aubameyang and Alexandre Lacazette.
The Gunners also put Mesut Ozil on a huge contract with the German believed to be earning £350,000 per week.
Aaron Ramsey is set to leave the club, either for a cut-price fee this month or on a free in the summer.
And Gunners legend Martin Keown believes that is down to previous big spending.
“If Arsenal are admitting they are only able to sign loan players, then it is staggering that they are happy to let one of their prize assets leave for nothing,” he told the Daily Mail.
“Juventus looks the most likely destination for Aaron Ramsey when his contract runs out at the end of the season. The Italian champions must be rubbing their hands together.
“All day on Thursday, sports channels were showing Ramsey’s highlights reel. This is a player who has scored some magnificent goals.
“In October he rounded off a flowing team move against Fulham which had fans singing: ‘We’ve got our Arsenal back.’
“Ramsey has conducted himself with great dignity this season but it is astonishing that Arsenal, a powerhouse in the English game, could not put together a package to keep him.
“The team are still formidable going forward. Pierre-Emerick Aubameyang and Alexandre Lacazette are good enough to grace any team in the Premier League’s top six.
“But the £100m spent to sign those players last season and hefty wages given to other star players has led to this situation.”