The Gunners are in the market for a winger this month and have missed out on their top target Mykhailo Mudryk, who joined Chelsea on a deal worth €100m.
Arsenal have been forced to look at other players as Mikel Arteta continues to push to add a wide man to his squad in the winter window.
Diaby’s name features on prominently on Arsenal’s list and the club have made the first move to try and sign him.
It has been claimed that initial contact has taken place between Arsenal and Leverkusen for the potential transfer of the Frenchman.
The Gunners are probing the possibility of taking the winger to the Emirates in the ongoing window.
However, any deal is likely to be complicated as Leverkusen are in no mood to sell a player of his quality in the middle of the season.
They were reluctant sellers last summer when clubs such as Newcastle wanted to sign Diaby.
The German giants valued him at around €100m in the last transfer window and the price is unlikely to be lowered any time soon.