With just than a year remaining on the attacker's existing deal, the Gunners are under increasing pressure to reach an agreement with the 31-year-old.
Mikel Arteta has acknowledged that winning the FA Cup on Saturday, in a game which saw Aubameyang score twice, will help the club's efforts to retain his services.
According to The Mirror, club officials are willing to commit to paying the club's star man in excess of £12m per year in order to stay at the Emirates Stadium.
Although the Gabon international will inevitably receive offers from elsewhere, the latest development may be enough to convince Aubameyang that his future lies with his current club.
The forward has netted 70 goals from 109 appearances since arriving from Borussia Dortmund in January 2018.