Fellaini looks set to leave Old Trafford on a free transfer this summer as the Reds struggle to agree terms on a new contract with the Belgium international, who is reported to have rejected a new one-year offer.
The former Everton star is now weighing up all options and according to reports in the press, the Gunners are one of them as new boss Emery is said to be a huge admirer of the player.
Emery tried to land Fellaini in the January transfer window when he was in charge of Paris Saint-Germain but a deal failed to materialise as he opted to run down his contract with United.
There is no shortage of interest in the player, however a switch to Arsenal could now be on the cards with reports claiming talks over a switch to the Emirates Stadium will take place later this week.
United boss Jose Mourinho has come to terms with the fact Fellaini is moving on, with Brazilian midfielder Fred set to be the first of several new signings this summer.