Kokcu is tipped to be a star at Euro 2020 this summer and Arsenal are said to be keen to get a deal done before the competition kicks off.
The Turkish international has caught the eye of Arsenal in what has been his breakout season at Feyenoord.
Arsenal have already opened talks to sign the 19-year-old, according to the Daily Mail.
Kokcu has scored two goals and provided four assists in 21 Eredivise games so far this season.
The Dutch club were hoping to extend his contract, which currently ends in 2023, but their financial standing may render them powerless to do so.
The Gunners have reportedly sensed an opportunity to take advantage of the situation and make their move.
Arsenal's technical director Edu is understood to have identified Kokcu as one of the club's top targets for the summer transfer window.
Kokcu's expected success at the European Championships has given Arsenal cause for concern as it means they may face competition for his signature.
Therefore, Arsenal's strategy is to agree a deal with Feyenoord for the youngster before the tournament even kicks off.
It's thought that Arsenal will have to pay £23m to secure Kokcu's services, which would suit a reduced budget were they to fall short of Champions League football again.
Kokcu could be a potential replacement for Mesut Özil, who has been linked with a move away from north London.
The 31-year-old has a contract which runs till 2021 and his agent has reiterated that his client has no intention of leaving Arsenal.
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