The 23-year-old had a spell with the Gunners early on in his career and has impressed a host of top flight clubs so far this season.
Now his former boss Slaven Bilic is weighing up a move for the midfielder and is ready to make the Turkish star his first signing in the January transfer window.
Rated at £14.7 million, Ozyakup will cost a large sum as the Croatian looks to link up with a player he knows well.
If Arsenal miss out on the midfielder they will look to his current team-mate Gokhan Tore.
