Aubameyang’s contract expires in 2021 and the Gabon international has been heavily linked with a move away from north London, with Real Madrid, Barcelona and Manchester United all monitoring the situation.
The 30-year-old has scored 61 goals in 97 games since his arrival from German Bundesliga side Borussia Dortmund in January 2018.
According to the Daily Mail, the West London club has now identified Club Brugge striker Dennis as the ideal replacement for Aubameyang after being impressed with his displays for the newly crowned Belgian Pro League champions in the 2019/2020 season.
Dennis rose to prominence this season after scoring a brace in the 2-2 draw with Real Madrid in the UEFA Champions League at the Santiago Bernabeu and hiting the back of the net once in the Europa League home clash against Manchester United.
Overall, he scored nine goals in 33 games across all competitions for Brugge last season.
Arsenal however face competition from Sheffield United, Watford, Newcastle and Brighton for Dennis.
The 22-year-old admitted he is open to leaving Brugge for a new adventure.
“I like challenges. I’ve been here for three years. My focus right now is I have one more game this season – the Cup Final – which I want to win, that’s really important to me,“ Dennis told Sky Sports News.
“After then, we’ll see what happens, you never know.”