The Algerian international was the best player of league last season as he was declared as the Player of the Year in the English Premier League.
Mahrez's sizzling football throughtout the year helped Leciester City script history as they lifted their maiden English Premier League trophy.
Arsenal who are in search of a star player this season have reportedly turned their attention towards the Algerian winger and are desperate to sign the player.
The Gunners are ready to spend as much as €50 million to get the player and according to media reports, they have contacted Leicester City regarding the player's availability.
Arsenal have an array of talented players in their midfield, with the likes of Mesut Ozil, Alexis Sanchez and Aaron Ramsey gracing the squad.
Riyad Mahrez's addition to this star studded midfield will lend more spark to Arsene Wenger's side. Predominantly a winger, Mahrez can operate from both the flanks as well as fit into a number 10 role.
The winger appeared in 37 matches for the Foxes last season scoring 17 goals and 11 assists. He is exactly the kind of player Wenger needs in his Arsenal side at the moment, a goal scoring midfielder.
Earlier this summer, the Gunners had targetted another Leicester star Jamie Vardy, but the club were not ready to sell their star forward.
A few weeks back, their main midfielder N'Golo Kante joined Arsenal's rivals Chelsea FC. Now If Mahrez too leaves the club it will be a huge jolt to the defending champions.
Claudio Ranieri is yet to make any major addition in the existing Leicester City squad.