The Bordeaux star is available for free at the end of the season and is widely expected to leave the French champions.
Gunnners boss Arsene Wenger has twice tried to sign the Moroccan international, but was put off by the club's £10 million asking price.
Liverpool had been thought to have been leading the chase for Chamakh, but the star said yesterday: "My choice is to join a Premier League club. If I had a choice, I would go to Arsenal.
"Bordeaux gave me a lot. I will soon clarify things so the club can prepare my successor."