Reports in Spain suggest Barcelona see the 27-year-old as an ideal alternative should their attempts to sign Antoine Griezmann continue to prove fruitless, and Lacazette indicated he would be open to a move to Camp Nou.
When asked about the Catalan club's apparent interest by French broadcaster Telefoot, he said: "It's flattering."
Lacazette joined Arsenal from Lyon in July 2017 for a reported fee of £53 million ($69m).
His Premier League goal tally stood at 13 in 35 appearances ahead of Arsenal's final-day clash with Burnley - his lowest domestic return in a single season since 2012-13.
Introducing our 2018/19 Player of the Season... Alex Lacazette!— Arsenal FC (@Arsenal) May 3, 2019
Big congratulations, @LacazetteAlex
Despite his consistent goal-scoring at club level over the last five years, Lacazette has started just five games for France during that time.
The Gunners forward, whose last cap came in 2017, remains hopeful Les Blues coach Didier Deschamps will call upon him, saying: "I've been playing well for a while.
"The coach has said he has his group. I'm working on my side and I'm waiting for my time if it comes."
Should the France international take the plunge and swap north London for Camp Nou he will become the latest in a long succession of players to have made the switch from Arsenal to Barca.
Dutch winger Marc Overmars spent a successful stint with the Catalan side after leaving the Gunners in 2000, whilst Thierry Henry picked up a Champions League winners medal - in 2009 - after joining Barca from the club where he was all-time top scorer.
Less successful were Emmanuel Petit and Alexander Hleb, neither of whom found playing time easy to come by in Spain, whilst Giovanni can Bronckhorst and Thomas Vermaelen continued to be bit-part players at Camp Nou, much as they had been for the Gunners.