The Express claim the Gunners sent spies to watch the striker in action during the Turin derby.
It’s suggested Arsene Wenger is still keen to sign Lyon striker Alexandre Lacazette.
However, the France international wants to play Champions League football next term.
And with Arsenal struggling to finish in the top four, Wenger might forced to look elsewhere.
Belotti has emerged as one of the hottest prospect in European football and has an £80m release clause.
Manchester United and Chelsea are also actively chasing the 23-year-old.
Belotti has bagged 37 goals in 64 games for Torino.
He was snapped up from Palermo for £6.3m in 2015.