Onana has been subject to transfer rumours almost from the moment he first joined Everton in the 2022 summer transfer window.
The Gunners have been one of those Premier League clubs who have been repeatedly linked with a potential move for the former Lille player.
Now, comes a story that the North London club have contacted the Toffees to enquire about signing the powerful midfielder, who is about to play in the Euros with his first game for his country against Slovakia on Monday.
With huge debts and as yet no new owner in place, Everton will have to sell players this summer - although that might change quickly if some reports are to be believed - and Onana has always been the one current Toffees star most likely to leave.
This might possibly happen before the end of June as the Blues seek to balance the books before the end of the month and try to avoid another PSR breach.
As for Onana himself, he has intimated that he is looking to use the Euros to showcase himself on the international stage and secure a move to another club.
The midfielder has always been something of an enigma during his time in a royal blue shirt mixing excellent performances with distinctly average ones.
He has the physical tools though to be a very dominant player and is still very young and so alongside Jarrad Branthwaite would fetch the biggest fee if the Toffees were to sell him.
All this of course could change if Dan Friedkin can complete his proposed takeover very quickly after the American emerged as the front-runner to secure a deal and become the new Everton owner.
That though is far from certain, but were the best case scenario to happen (never usually true when it comes to the Blues!) Friedkin might well look to hold onto young talent like Onana and the player himself could even decide to stay.
All this is purely speculation obviously, and as we always do it is a case of waiting for solid developments to take place before there can be any certainty about what will happen in the future.