The former UEFA Cup winners - managed by Frank Rijkaard - currently possess a squad littered with former Premier League players including Elano, Lucas Neill, Harry Kewell and Milan Baros, while Giovani dos Santos and Jo are on loan from Tottenham Hotspur and Manchester City respectively.
Brazilian forward Jo is expected to return to Eastlands at the end of the season, and the Ali Sami Yen Stadium outfit are believed to have identified Traore - also wanted by PSV and Udinese - as an ideal replacement.
The 19-year-old 6ft 8in front-man - dubbed the 'new Emmanuel Adebayor' - has netted six times in 22 league appearances since arriving from Stade d'Abidjan.
After several eye-catching performances in Romania, Emirates Stadium supremo Arsene Wenger was believed to be ready to take a gamble on the Ivorian youngster in January in order to ease his striker crisis, following injuries to Robin van Persie, Eduardo and Nicklas Bendtner.
However, a winter transfer window move for Traore was reportedly scuppered by work permit restrictions - meaning any deal with the Gunners could not be completed until the end of the season.
Traore had previously admitted his interest in a move to Arsenal, revealing that it would be a dream to play for the North London club.
"It would be a dream for me to get to play on a team so great. I have a chance there because Wenger relies heavily on young players," he said.
"The Ivory Coast coach has already told me I will get my chance with the national team, but my chances of that happening would certainly increase if I was to join a big team like Arsenal.
"It is sensational to hear Wenger is watching me. I could be a success in England."
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