Atletico Madrid are reportedly interested in Arsenal defender Hector Bellerin and are willing to offer Vitolo in exchange.
The 24-year-old is still on the mend from a long-term knee injury that has kept him sidelined since January.
Bellerin is reportedly still a couple of months away from making a full recovery, but that has not forced the Gunners to look elsewhere for a new right-back.
According to The Telegraph, Los Rojiblancos will try to tempt Arsenal into discussing a deal by giving them the chance to sign Vitolo, who won three Europa League titles with Unai Emery at Sevilla.
Vitolo can operate as a winger or as a forward and has 12 Spain caps to his name, but he was restricted to just five starts in all competitions for Atletico last season.