The Spanish striker has found game time difficult to come by this season despite impressing in the handful of opportunities he’s been given, including a Champions League group stage match at Basel in December where the 28-year-old scored a hat-trick.
He announced himself on English soil back in September when scoring two goals in an EFL Cup tie against Nottingham Forest and the summer signing from Deportivo La Coruna has made an impact in most of the 17 appearances he's played in this season.
Perez, who has scored a goal every 133 minutes this campaign having made just eight starts, has set his sights on a place in the Spain national team for the 2018 World Cup in Russia and believes he will be forced to leave the Gunners in order to get regular football elsewhere.
Arsenal boss Arsene Wenger met with Perez for talks over his lack of playing time earlier in the season, when the player told the Frenchman he was not happy with his lack of opportunities in the team.
The £17.5million arrival for Deportivo is able to play across the frontline but has found himself behind Olivier Giroud, Theo Walcott, Alex Iwobi and Danny Welbeck in the pecking order at Emirates Stadium.
Perez missed Wednesday's Champions League last-16 first leg defeat to Bayern Munich with a minor hamstring injury and is likely to be involved in the upcoming FA Cup clash against Sutton United if he recovers in time.