The 30-year-old was deemed surplus to requirements at Old Trafford ahead of the 2019-20 campaign, which led to Roma agreeing a season-long loan for the former non-league defender.
Smalling has impressed for I Giallorossi this term, finding the back of the net on two occasions in 11 Serie A appearances.
As it stands, the Englishman will return to Old Trafford next summer with the view to working his way back into the first-team set-up with the Red Devils.
Roma are thought to be keen on a permanent deal, though, and according to The Sun, Arsenal are also interested in signing the centre-back ahead of the 2020-21 season.
The report claims that the Gunners lead Premier League rivals Everton and Leicester City in the race for Smalling, who has been the subject of regular scouting trips from the London club in recent weeks.
The defender has made 323 appearances for United since arriving from Fulham in 2010. body check tags ::