Brandt moved to Borussia Dortmund last year, but he has been underwhelming for them as they attempt to topple Bayern Munich.
Arsenal struggled to get the cash needed to sign Aouar in the last transfer window and they might still not be able to get him next month.
Arsenal’s major problem has been that of creativity and the Gunners are already running out of time to solve it.
Brandt was highly-rated when he played for Bayer Leverkusen and he even attracted attention from Liverpool before he made the move to Dortmund.
The presence of the likes of Jadon Sancho and Jude Bellingham has seen his chances to play regularly reduce for some time now and a move to Arsenal might be best for him.
Still only 24, Brandt can become a top player under the management of Mikel Arteta if he moves to the Emirates.
It remains unclear how much Dortmund will ask for his sale, but Arsenal can also strike an agreement that sees them sign him on an initial loan deal.