The 25-year-old spent last season on loan at Atletico Madrid, who decided against taking up the option to make the move permanent this summer.
Though Torreira is set to return to the Emirates Stadium, he does not appear to have a future under Mikel Arteta and could be on his way out of the club soon.
The midfielder has previously expressed his desire to join Argentine giants Boca Juniors, but he could also have the opportunity to return to Italy, with Lazio said to be keen.
And in a boost for Lazio, the Uruguay international is open to a return to Italy and has given the green signal for a potential transfer to the Stadio Olimpico.
And it is now up to the Italian top flight to make an offer that will convince Arsenal to sanction the sale of the former Sampdoria midfielder.
Lazio are keen to bolster Maurizio Sarri’s options with the addition of Torreira, but Arsenal’s asking price of €20m is currently said to be too high for them.
There has been talk of Arsenal being open to a swap deal that would see Torreira joining Lazio in return for Joaquin Correa, though it remains to be seen if such a deal will materialise.
