Eight months after his exit from the Emirates Stadium, Emery has been given a chance to rebuild his career at Estadio de la Ceramica.
According to Foot Mercato, one of his first moves was to express an interest in signing out-of-favour Guendouzi.
Despite being a regular under Emery, the Frenchman now finds himself down the pecking order at the Gunners after several disciplinary issues.
With Mikel Arteta keen to part ways with the 21-year-old, it appears that Villarreal will attempt to negotiate a deal with the Premier League outfit.
The report suggests that the Yellow Submarine may look to secure a season-long loan before completing a permanent transfer next summer.