According to Aksam (h/t Milliyet, via the Mirror), the Gunners are eager to bring the Turkish midfielder back to the Emirates Stadium on a free transfer in the summer having sold him to Besiktas for €500,000 back in 2012.
Ozyakup came through Arsenal's youth system after moving to the north London outfit from AZ Alkmaar in 2008.
He only ever made senior appearances for Arsenal in the League Cup, but he has been a stalwart at Besiktas in recent seasons and has won two Turkish league titles with the club.
At only 25 years old Ozyakup also still has room for improvement, while he is already a regular in the Turkish national side.
An enterprising and influential central midfielder, Ozyakup can provide both creativity and solidity in the middle of the park.
He has spent much of the 2017-18 campaign playing in a deep-lying role in Besiktas' 4-2-3-1 system.
He can thrive in a more defensive role as his positioning is excellent, and he also boasts the craft and vision to begin attacks from deep.
However, Ozyakup can also operate in a more advanced No. 10 role as he is comfortable on the ball and creatively adept.
Given Arsenal manager Arsene Wenger has both Mesut Ozil and Henrikh Mkhitaryan in his squad it is unlikely he is pursuing Ozyakup to play in the No. 10 role.
The Gunners are short on options slightly deeper, though, and have long missed the influence of the injured Santi Cazorla in the engine room.
Wenger is likely hopeful Ozyakup can act as a long-term replacement for the Spaniard in the middle of the park.