Forward has been on the radar of Liverpool and Spurs but has already said he wants to play for a club in the Champions League after impressive season in Ligue 1
The 24-year-old made a big impact last season scoring 15 goals in 40 matches to help Lille win their third Ligue 1, 57 years after winning their last title.
Liverpool reportedly made an £11m (€12.5m) offer to recruit the Ivory Coast player which Lille rejected insisting they want at least £15m (€17m) for their star striker.
According to News of the World, Gunners boss Arsene Wenger has been impressed by Gervinho and will offer him the chance to play in the coveted Champions League after the striker declared that he would favour a club who will be contenders in Europe when making his choice.
Gervinho is expected to decide whether to stay with the new Ligue 1 champions next season or join one of the Premier League teams racing to sign him after the Ivory Coast’s African Nations Cup qualifier against Benin on Sunday.