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.
"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."
