Fiorentina's Steven Jovetic and Borussia Dortmund's Robert Lewandowski top Arsene Wenger's list of replacements for Robin van Persie, according to reports.
The Dutchman announced this week that he would not be signing a contract extension at the Emirates Stadium, leading Wenger to search for his successor.
Arsenal's scouting team will hold a meeting at the club's training ground in Colney next week to discuss the matter, according to the Daily Mail.
Lewandowski, who starred for Poland at Euro 2012, has been touted for a move to Manchester United after bagging 30 goals in all competitions last season.
Meanwhile, Chelsea have been linked with Jovetic, who has become one of Europe's brightest talents since moving to Serie A in 2008.