The London club had tendered a €60m bid on Monday, June 13, for the striker.
According to La Gazzetta Dello Sport, Arsenal are keen on signing the 23-year-old as a replacement for sold striker, Alexandre Lacazette.
The report stated, “Arsenal are gearing up to enter talks with Napoli for Osimhen and are keen to sign the €100m valued striker.
“Manchester United are also keen on a move but the Gunners hold the edge for the time being.
“The deal could be concluded later this month, allowing Napoli to immediately reinvest the funds and carry out a decent transfer window.”
Osimhen who is also attracting interest from other top European clubs scored 18 goals and provided six assists in 32 appearances last season.