Arsenal are hoping to take Malcom from Barcelona on a season-long loan deal, according to a report.
The Gunners are unlikely to add any star quality to their squad on a permanent basis this summer due to the restricted budget boss Unai Emery is working with.
Barca are rumoured to have offered Malcom to Arsenal as an alternative to first-choice attacking option Wilfried Zaha, but Arsenal are unable to afford a deal.
Spanish outlet Sport suggests that Arsenal have asked Barca about the possibility of a loan switch, but they are expected to be unsuccessful as the La Liga champions want to get rid of Malcom for good.
Malcom is still believed to be valued at more than £30m, despite failing to hold down a regular starting spot at Camp Nou following his £37m arrival from Bordeaux last summer.
