Nketiah has produced five goals and three assists across 19 top-flight matches this term but many pundits have questioned his ability, with Mikel Arteta forced to defend his player in November.
Arsenal want to recruit a new striker in January and have made Ivan Toney their No.1 target but must offload some players if they are to bring in new faces.
Nketiah could be one of the first through the exit door with Arsenal putting him up for sale at a price of £30m, according to the Daily Star.
Should Arsenal offload the Hale End academy graduate Nketiah, it may help the north Londoners in their quest to land Brentford star Toney.
Toney registered a hat-trick for Brentford in a behind-closed-doors game on Saturday ahead of his return to action.
Toney is currently serving an eight-month ban for breaking the Football Association’s rules on betting but his suspension is set to end on January 17.
That means that he is eligible for Brentford’s Premier League clash against Nottingham Forest on January 20.
Brentford having set a new asking price of £100m for their biggest star as they look to try and keep him at the Gtech Community Stadium.