The centre-back has just endured a frustrating campaign with the Blues, with injury and a disagreement with head coach Antonio Conte resulting in just 15 appearances being made in all competitions.
As it stands, Conte remains at Stamford Bridge - although that could change in the coming days - and an exit for the Italian will increase the chances of Luiz staying in West London.
However, according to Le10Sport, Arsenal are showing interest in adding the Brazil international to their squad after the arrival of Unai Emery.
The report claims that an opening offer has already been rejected by Chelsea, but the Gunners could potentially return at a later date as Emery looks to strengthen his defence.
Luiz currently has one year remaining on his contract.