Willock equalled Alan Shearer’s club-record seven-game Premier League scoring streak last season while he was on loan at Newcastle.
The Magpies want him back and have been trying to convince Arsenal to do a deal throughout the summer, with Willock their main transfer target.
Willock has been part of Arsenal’s pre-season plans but he has Emile Smith Rowe ahead of him in the pecking order.
Arsenal are yet to take a call on him but it has been claimed that his future will be resolved in the next week.
Mikel Arteta is set to play a key role in the decision-making process as the Gunners look to find a solution.
Willock wants to play regular football next season and is open to joining Newcastle again this summer.
But Newcastle are facing competition from Monaco who are interested in taking him to France.
Steve Bruce recently stressed that Newcastle cannot wait forever for Arsenal to make a decision on Willock and it appears he could get his wish with the Gunners to decide within the next week.
