Arsenal wanted to sign the Brazilian midfielder in January and he was also keen on the move but the Gunners failed to reach an agreement with Juventus.
Arthur has made just eleven starts in the league this season and Juventus are prepared to sell him as part of their plans to reinvigorate their midfield ahead of next season.
Arsenal are again keen on him and considering taking the 25-year-old to north London in the summer transfer window.
But it would cost them a considerable fee as, according to Italian outlet TuttoJuve, the Italian giants still want big money from his sale.
It has been claimed that the Serie A giants want somewhere around €40m before agreeing to sell him.
He is not a big part of their plans but Juventus are also mindful about not losing money on him as well.
Therefore, the club want a big fee in order to make a solid profit on him and add more weight to their own transfer kitty for the summer.
It remains to be seen whether Arsenal are prepared to pay such a sum to sign the midfielder in the coming months.