Ceballos was happy at Arsenal and enjoyed playing under Arteta towards the end of the season after struggling initially following his loan move from Real Madrid.
Arsenal want to re-sign the player, possibly on another loan deal from Real Madrid, but no agreement is yet in place between the two clubs for the Spaniard.
Real Madrid have asked Ceballos to join their pre-season training camp, but it is unlikely that he will have a big role at the club under Zinedine Zidane.
Arsenal are keen to take the Spaniard back at the club for next season, but the midfielder is yet to take a decision on his future.
Ceballos will seek assurances over regular game time before considering rejoining Arsenal on a fresh deal this summer.
With the European Championship and the Olympics scheduled for next year, Ceballos wants to be in the Spain squad and for that he needs to play regularly next season.
Arsenal are considering other midfield reinforcements this summer apart from re-signing the Spaniard as well.
Ceballos also has the option of returning to Spain with his former club Real Betis interested in signing him.