The 28-year-old enjoyed an impressive campaign for his Portuguese club, scoring three times and contributing 13 assists in 48 appearances in all competitions.
According to the Daily Mail, Arsenal are also firmly in the hunt for a player who is capable of operating in a number of different positions.
Corona largely plays as a right-sided midfielder but also turned out at right-back and left midfield for Porto during the 2020-21 season, which included outings against Manchester City and Chelsea in the Champions League.
The Mexico international, who missed the end of last season with a muscular problem, is believed to have a £21.4m release clause in his current deal. body check tags ::